Oil firms seen to slash fuel prices next week

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Metro Manila (CNN Philippines, May 14) — Oil companies are expected to impose a rollback on the prices of fuel products from May 17 to 23, the Unioil Petroleum Philippines said on Saturday.

According to the forecast, the price of diesel should go down by ₱2.90 to ₱ 3.00 and gasoline price by ₱0.40 to ₱0.60.

The rollback comes after oil firms imposed a big-time hike, wherein per-liter rates of gasoline increased by ₱4.20 and ₱4.20 per liter for diesel.