Oil price rollback set next week

Oil companies are set to implement another batch of oil price rollback next week ranging  from P1.70 to P4.90 per liter.

Based on the projected price movement, diesel prices may go down by P1.70 to P1.90 per liter, and gasoline prices by P4.70 to P4.90 per liter. 

The projections may still be adjusted on Saturday. 

Rodela Romero, assistant director of Department of Energy-Oil Industry Management Bureau (DOE-OIMB) said the expected rollback is due to “the temper oil demand of China due to COVID cases and the threat of global recession and economic slowdown.”

“For the 4 day trading, there would be a rollback for gasoline, diesel and kerosene though due to volatility of prices, trading today might affect the amount of the rollback or the direction of the movement,” she said. 

For July 12 to 18, gasoline prices in Metro Manila range from P71.49 to P90.45 per liter, diesel from P75.30 to P88.90, and kerosene from P80.04 to P90.65. – Report from Naomi Tiburcio-ag

Popular

PBBM underscores public cooperation as key to better disaster response

By Dean Aubrey Caratiquet President Ferdinand R. Marcos Jr. reiterated his call on the citizenry to remain on constant alert and exercise vigilant measures at...

PBBM lauds eGov app’s impact on Filipinos, hints at upcoming features

President Ferdinand R. Marcos Jr. recognized the indispensable role of the eGov app in fast-tracking and streamlining the digitalization of government transactions and services,...

What’s next for the Marcos admin? Key agencies tackle food security, economic dev’t post-SONA 2025

https://www.youtube.com/live/hXRnysWZ6SM?si=GGc-0MxxrP1SXsvE By Brian Campued President Ferdinand R. Marcos Jr. has reported the situation of the country—along with his administration’s progress, gains, and challenges in the past...

PBBM lauds improvements in PH labor market

By Dean Aubrey Caratiquet President Ferdinand R. Marcos Jr. praised the wide-ranging achievements made by his administration on bolstering the country’s domestic labor market over...