Oil companies have once again made roll back in their pump prices.
Oil firms are cutting the prices of diesel, kerosene and gasoline tomorrow.
Oil companies are likely to reduce per liter prices of gasoline by P0.85 and P3.95 for diesel and P2.95 for kerosene.
The changes will take effect at 6 a.m. on November 29.
The latest adjustments mark the second straight week of rollbacks for gasoline, and the sixth for both diesel and kerosene, GMA News reported.
Assistant Director Rodela Romerto of the Department of Energy-Oil Industry Management Bureau confirmed that there will be a big-time rollback in the prices of all petroleum products next week.
The major causes of the expected drop in fuel prices are the rising COVID-19 instances in mainland China, the increased oil stockpile in the United States, and the price cap placed on Russian crude, she said.
Last week oil firms reduced the per liter price of gasoline by P0.40, diesel by P2.15, and kerosene by P2.10, respectively.
Based on DoE data, the total price increases for for gasoline, P33.85 per liter for diesel, and P27.85 per liter for kerosene as of November 22, 2022.
Tags: #rollback, #OilPriceUpdate