OIL companies imposed a big-time price rollback for gasoline on Tuesday.
The per-liter price of gasoline went down by P16.80, diesel by as much as P4.10, and kerosene by as much as P3.70.
Energy Secretary Sharon Garin attributed the big price rollback to the “decline in crude prices in the international market, due mostly to the easing of tensions between the US and Iran, as well as due to the results of the US midterm elections.” “This substantial rollback is a welcome relief for Filipino motorists, public transport operators, and households. We will continue to closely monitor fuel price adjustments and engage oil industry stakeholders to help ensure that Filipino families benefit from favorable developments in the global oil market,” Garin said.
Last week, the price of gasoline went up by P3.50 per liter, diesel went down by P1 per liter, and kerosene dropped by P1.90 per liter.
