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
