Just when we thought we’d be experiencing continuous fuel price increases, it seems a respite is on the way. According to a post by the GMA News Network, a big price rollback is set to take place next week.
Fuel Price Rollback Details
According to the post, here are the corresponding fuel price rollback range:
Diesel – PHP 6.30-6.50
Gasoline – PHP 5.70-5.90
The price rollback was cited by DOE-Oil Industry Management Bureau Director Rino Abad, Abad went on further to say that the China Shanghai lockdown, Interest hikes by various countries, and the threat of recession which could cause demand destruction are the reasons for the price rollback.