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Big-time oil price rollback this week


By Bella Gamotea

A big-time rollback in the prices of petroleum products is in the offing this week, following six weeks of consecutive hikes.

Sources at the Department of Energy (DOE) said the price rollback will see the adjustment in oil prices as follows: Diesel – from P1 to P1.35; Gasoline – P1 to P1.10; and Kerosene – P0.80 to P0.90.

The rollback is brought about by the lowering of the price of crude in the world market.

The last oil price hike was implemented on February 6 which increased the price of kerosene by P0.60, gasoline by P0.50, and diesel by P0.35.

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