ABS-CBN
Big-time oil price rollback projected next week
Motorists can expect a significant rollback in fuel prices next week, with projected decreases of P11 to P11.70 per liter for diesel, P6 to P6.20 per liter for gasoline, and P8.70 to P8.80 per liter for kerosene.
This marks the first oil price rollback of 2022, following 11 consecutive weeks of price hikes.
Since the start of the year, diesel prices had increased by P30.65 per liter, gasoline by P20.35 per liter, and kerosene by P24.90 per liter.
The Department of Energy's Oil Industry Management Bureau uses the Mean of Platts Singapore to forecast price changes.
Fuel companies typically announce price adjustments on Mondays for implementation on Tuesdays.
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Philippine oil firms implemented a rollback in pump prices of petroleum products starting Tuesday, March 22, 2022, ending 11 consecutive weeks of price hikes.
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Motorists will see a rollback in fuel prices starting Tuesday, March 22, with diesel prices cut by P11.45 per liter and gasoline by P5.45 per liter.
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Energy Secretary Alfonso Cusi anticipates a significant oil price rollback next Tuesday, March 22, potentially decreasing gasoline prices by over P5 and diesel prices by P12 or more.
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Fuel prices are expected to decrease next week, with diesel possibly dropping by P12 per liter and gasoline by P6 per liter.
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Cleanfuel announced a temporary rollback on diesel prices starting March 16, 2022, to provide motorists with a reprieve from consecutive fuel cost increases.
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