Oil firms seen to implement price rollback next week

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Metro Manila (CNN Philippines, September 17) — Oil companies are expected to implement a rollback on the prices of fuel products starting Tuesday next week (September 20), said Unioil Petroleum Philippines.

According to the forecast, firms will slash the per-liter prices of diesel by ₱3.80 to ₱4.00 and of gasoline by ₱0.15 or possibly no change.

Early this week, fuel firms also cut the per-liter prices of gasoline by ₱0.45, of diesel by ₱1.45, and of kerosene by ₱1.70.

According to the Department of Energy's oil monitor as of Sept. 13, there have been per-liter increases of ₱16.50 for gasoline, ₱34.80 for diesel, and ₱29.90 for kerosene since the start of 2022.

The Land Transportation Franchising and Regulatory Board on Friday approved the ₱1 provisional increase for both traditional and modern Public Utility Jeepneys (PUJs) for the first four kilometers. This brings the minimum fare for the PUJs to ₱12 and ₱14, respectively.