• CHERYL G. CRUZ
The second straight week of rollback in the prices of petroleum products will take effect tomorrow, March 11.
Oil companies said that diesel could go down by P0.90 to P1.10 per liter, gasoline by P1.50 to P1.70/L, and kerosene by P1.50 to P1.70/L.
The exact price adjustments will be known today.
Effective March 4, oil companies also implemented a uniform decrease in the per-liter price of diesel at P0.80, gasoline by P0.90, and kerosene by P1.40, to reflect changes in the international market.
The Department of Energy said the rollback is mainly due to the stockpile of commercial crude oil in the United States, as well as plans by OPEC+ group, or the Organization of the Petroleum Exporting Countries and allies, to increase output in April.
Tariff adjustments are also expected to impact prices amid the ongoing global trade conflict, the DOE said. | CGC
