MANILA, Philippines — Oil companies are expected to implement a big-time price rollback next week as the global market reacted to recent developments in the Middle East and the US mid-term elections, local oil industry sources said on Friday.
They said that diesel prices may drop by around P4.30 to P4.50 per liter, while gasoline prices may go down by about P12.50 to P13.50 per liter.
These estimates are based on the 4-day trading of Mean of Platts, Singapore, the pricing basis of refined goods in Southeast Asia.
This week, diesel prices went down by P1 per liter, while the cost of gasoline increased by P3.50 per liter.
