DOE says oil price rollback may be implemented next week 

After two straight weeks of price hikes, pump prices of petroleum products are expected to rollback in the coming week, the Department of Energy (DOE) said on Saturday.

Energy Undersecretary Felix Fuentebella said the DOE has observed that last week's international oil trading may reflect on the domestic prices of fuel products.

The Energy official said that prices of gasoline may decrease by P0.25 per liter, while diesel and kerosene may rollback by around P0.70 per liter and P0.60 per liter, respectively.

"Adjustments on petroleum products are implemented every Tuesday of the week. Please note however that these findings may still be affected by the Friday trading activities which will be accessed on Monday," he said.

The latest data from the DOE show that diesel prices range from P27.35 to P31.46 per liter while gasoline prices sell for P38.95 to P51.01 per liter. —ALG, GMA News