Oil firms are expected to implement another round of rollback in the prices of petroleum products next week, the Department of Energy (DOE) said on Saturday.
"There will a rollback... 70 to 90 centavos for gasoline, diesel, and kerosene," Energy Undersecretary Felix Fuentebella said in a text message.
Estimated downward adjustments in pump prices may still change on Monday upon the completion of the whole week assestment of oil trading, Fuentebella noted.
He said the rollback is due to oversupply.
Latest data from the DOE show diesel prices in the country currently range from P27.75 to P32.96 per liter, and gasoline from P38.25 to P50.40 per liter. —ALG, GMA News
Latest from PhilippineNews
- BI says suspect in UST hazing death has left country – reports
- Two Filipinos named 'Asia 21 Young Leaders'
- CA lawmakers urged to pass SB 100 for 100% clean electricity by 2045
- McDonald’s USA to celebrate Literacy Month with popular children’s books in Happy Meals
- Drug testing of students ‘preventive, not punitive’ – Briones