Oil Firms Expected to Impose ‘Bigtime’ Oil Price Rollback Next Week
OIL PRICE ADJUSTMENT – Several oil firms are set to implement a ‘bigtime’ oil price rollback on upcoming Holy Week.
The coronavirus pandemic continues to spread in different countries all around the world including the Philippines. The virus has already affected millions of people causing a health crisis in the country.
The respiratory disease does not only affect the public’s health but also affect the global economy. The health crisis causes an increase in prices of basic commodities.
Recently, some oil companies in the Philippines are expected to impose a price adjustment on prices of petroleum products. The petroleum stations would implement a ‘bigtime’ oil price rollback after a series of price hike.
The petroleum companies are expected to impose a P1.30 – P1.40 rollback per liter of kerosene, P1.40 – P1.50 reduction per liter of diesel and P1.40 – P1.50 cut per liter of gasoline.
This is the second rollback in prices of petroleum products implanted in the country amid the surging cases of the coronavirus disease.
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