VEHICLE owners may expect a possible rollback in the prices of petroleum products in the coming days after five consecutive weeks of price increases.
For its fuel price forecast for July 5-11 trading days, Unioil Petroleum Philippines forecasts a price decrease of P2.80 up to P2.90 per liter for diesel.
As for gasoline, there may be a P0.10 decline or no movement at all for the price of gasoline.
Oil industry sources bared that there may be a possible rollback of P3.10 up to P3.30 per liter for diesel, and P0.20 up to P0.40 per liter for gasoline.
Department of Energy-Oil Industry Management Bureau Director Rino Abad said that there are two possible reasons for the expected oil price rollback, which includes the China lockdown, the weakening of the economy and the demand for oil products.
Based on Department of Energy data up to June 30, per liter of gasoline in Quezon City is sold at P77.90 up to P89.61, and P86.65 up to P91.01 per liter of diesel in Manila.