Fuel price rollback
WITH the skyrocketing prices of rice in the local market, the reported price reductions in petroleum products is certainly good news.
Described as “slight reductions,” the price cuts take effect first week of the new year, according to the Department of Energy (DOE).
The Department of Agriculture (DA) had earlier reported that the government may declare a “food emergency” in the country.
Of course, this is to bring down the prices of rice, which is the main staple food of Filipinos.
According to reports, gasoline and diesel prices may go down by 30 centavos per liter to 65 centavos per liter for the first week of 2025.
Kerosene prices may also decrease by 80 to 90 centavos a liter.
Likewise, downward adjustments ranging from 30 ro 50 centavos per liter for both diesel and gasoline are expected during the period.
The price rollback can be attributed to the International Energy Agency’s expectation of of an “oversupplied oil market in 2025.
Bringing down the prices of petroleum products is, without doubt, a move in the right direction which the Filipino people ought to support.
