MANILA, Philippines — The Department of Energy announced on Friday that another significant oil price rollback is expected in the second week of May. Based on four-day trading prices, gasoline prices could decrease by up to P2.25 per liter, while diesel prices may see a maximum reduction of P0.85 per liter. Kerosene prices are also anticipated to decrease by as much as P1.00 per liter.
Last week, oil companies already rolled back pump prices with diesel prices down by P0.90 per liter, gasoline prices down by P0.75 per liter, and kerosene prices down by P1.05 per liter.
Oil companies are set to announce the final price adjustments next week on Monday, which will be implemented by Tuesday.
