Major rollback for gasoline prices set this week

MANILA: Good news for motorists who use gasoline-fueled vehicles, as the Department of Energy (DOE) shared that the cost of the said petroleum product will drop by P4.30 per liter across the board. 

Meanwhile, diesel will jump by P2.60 per liter while kerosene will slide by P1 per liter. 

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Compared to last week’s movement, here is how it looks: 

Products	Permitted range of price adjustment (October 13-19)	Permitted range of price adjustment (October 20-26)
Gasoline	P1.56 increase	P4.30 decrease
Diesel	P3.01 decrease	P2.60 increase
Kerosene	P1.77 increase	P1 decrease

“Ang mga pagbabagong ito ay nakabatay sa galaw ng pandaigdigang merkado ng langis, sa gitna ng patuloy na kaganapan sa Middle East na nakakaapekto sa global supply at presyo (These changes are driven by movements in the global oil market, amidst ongoing events in the Middle East that are affecting global supply and prices),” the DOE wrote in a social media post

“Patuloy ang pagkilos ng Department of Energy upang mapalakas ang supply ng langis at mapangalagaan ang kapakanan ng publiko (The Department of Energy continues its efforts to bolster oil supplies and safeguard the public's welfare),” it added.

Also read: 

Petroleum price hike worsens 

Major price hike poised anew

Local oil players increase fuel prices after 'brief rollback

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