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Another round of fuel price rollback expected next week
Filipino motorists are set for a second consecutive week of fuel price rollbacks, with Jetti Petroleum projecting potential price drops of P0.20 to P0.40 per liter for diesel and P0.80 to P1.00 per liter for gasoline.
These reductions are attributed to easing geopolitical risks in the Middle East and anticipation of increased supply from an OPEC+ output hike.
Worries about the impact on the economy and fuel demand driven by US tariff uncertainty have also weighed on prices.
Oil prices have remained relatively stable as markets weigh positive demand signals from China against potential price increases from Saudi Arabia for Asian buyers.
Price gains from concerns over Iran's nuclear program were pared by demand worries in the US, following an unexpected build in crude oil and gasoline inventories.
Oil companies announce official price adjustments every Monday, which are implemented on the following day.
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Motorists can anticipate a rollback in fuel pump prices starting July 1, with expected decreases of P1.30 to P1.70 per liter for gasoline and P1.70 to P2.10 per liter for diesel.
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Filipinos can expect fuel price reductions this week, with gasoline prices cut by 70 centavos per liter, diesel by 10 centavos per liter, and kerosene by 80 centavos per liter.
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Oil prices are set to decrease starting July 1, following two consecutive weeks of significant price increases.
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Oil companies are expected to implement a rollback in fuel prices starting July 8, with gasoline prices to be reduced by P0.70 per liter and diesel by P0.10 per liter.
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