It’s beginning to circulate that despite the big increases in fuel prices this week, there’s a chance next week may bring a big price rollback as well.
It was during Department of Energy (DOE) Secretary Alfonso Cusi’s report to President Rodrigo Duterte, that he believes there could be a Php 12 + rollback on diesel and a Php 5 + rollback on gasoline. Secretary Cusi believes this could be due to positive developments and improvements in the international market.
The specific developments and improvements were not mentioned, however, a number of factors could have played a role. Such as the improved relations between Ukraine and Russia to continue with peace talks. If that were to succeed it could bring down the price of oil per barrel globally, seeing as Russia is part of the top three producers of oil in the world.
Let’s hope Secretary Cusi’s prediction comes true, as well as a better outcome from the possible Ukraine-Russia peace talks.
