Early signs point to potential fuel price rollback next week

Manila Bulletin - Early signs point to potential fuel price rollback next week

Early signs point to potential fuel price rollback next week

Motorists burdened by a three-week streak of oil price hikes may finally see relief, with early trading estimates showing sharp rollbacks in petroleum products next week. Initial price projections based on Mean of Platts Singapore (MOPS) trading, regional cargo premiums, and foreign exchange movements indicated that diesel prices could drop by ₱7.98 per liter. Gasoline is also expected to decline, with potential cuts estimated at ₱0.86 per liter.

Department of Energy Oil Industry Management Bureau (DOE-OIMB) Director Rino Abad said in a media briefing on Tuesday, Sept. 22, that increased crude oil loading at the start of the week helped ease market pressures.