Another major fuel rollback seen next week
Detailed summary
Motorists should expect another round of rollback in pump prices to be implemented in the coming week. Citing estimates based on Mean of Platts Singapore trading and foreign…
Motorists should expect another round of rollback in pump prices to be implemented in the coming week.
Citing estimates based on Mean of Platts Singapore trading and foreign exchange averages in the last four days, an oil industry source said a price reduction in the retail prices of petroleum products could be expected as follows:
“Diplomatic headlines continue to push oil prices lower this week despite lingering supply risks,” the source said.
“However, growing supply disruption worries as attacks on Saudi energy infrastructure and shipping through the Strait of Hormuz escalated have caused prices to rebound recently,” the source added.
Fuel firms announce official price adjustments every Monday, to be implemented on the following day.
This week, oil companies slashed the per liter prices of gasoline by P16.80, diesel by P4.10 per liter, and kerosene by P3.70 per liter. —VAL, GMA News
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MarketNews shows the headline and summary published by the outlet. The full article is on the publisher's website. (www.gmanetwork.com)
