Fuel price rollback seen next week | ABS-CBN
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Fuel price rollback seen next week
Fuel price rollback seen next week
MANILA — Oil prices are set to drop for the second time this March.
MANILA — Oil prices are set to drop for the second time this March.
The following rollbacks in pump prices are projected to take effect next week, March 11:
The following rollbacks in pump prices are projected to take effect next week, March 11:
Gasoline - P1.70-P1.90/liter decrease
Gasoline - P1.70-P1.90/liter decrease
Kerosene - P1.60-P1.80/liter decrease
Kerosene - P1.60-P1.80/liter decrease
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Diesel - P0.90-P1.10/liter decrease
Diesel - P0.90-P1.10/liter decrease
The price cuts are mainly due to a buildup in US stockpiles of commercial oil.
The price cuts are mainly due to a buildup in US stockpiles of commercial oil.
The OPEC+ has also announced it will continue plans to increase supply output in April. Meanwhile, Mexico, Canada and China are lowering demand due to US trade tariffs.
The OPEC+ has also announced it will continue plans to increase supply output in April. Meanwhile, Mexico, Canada and China are lowering demand due to US trade tariffs.
Another factor that influenced the rollback was the strengthening of Philippine peso against US dollar.
Another factor that influenced the rollback was the strengthening of Philippine peso against US dollar.
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