Oil price rollback looms

AFTER weeks of price increases, consumers may expect rollbacks in the prices of petroleum products this week, the Energy Department said Sunday.

The department said prices will go down by P0.75 per liter of gasoline, P0.55 per liter of diesel and P0.90 per liter of kerosene as a result of the continuing oversupply in petroleum products.

On Oct. 3, the oil firms raised diesel and kerosene prices by P0.55 per liter and gasoline by P0.25 per liter.

The oil firms also raised the prices of diesel and kerosene by P0.45 per liter and P0.65  per liter, respectively, on Sept. 26.

Any adjustments on petroleum products are implemented every Tuesday.