Oil price rollback seen next week

After several consecutive rounds of price hikes, pump prices of petroleum products are expected to decrease in the coming week, according to projections by Unioil Petroleum Philippines.

In its fuel price forecast for November 9 to 15 trading week, Unioil said the price per liter of gasoline may go down by P0.90.

Diesel prices, meanwhile, may roll back by P0.40 to P0.50 per liter.

Oil companies usually announce price adjustments every Monday to be implemented the following day.

Effective November 2, fuel firms increased gasoline prices by P1.10 to P1.15 per liter, while they slashed diesel prices by P0.35 to P0.40 per liter.

Year-to-date adjustments stand at a total net increase of P21.95 per liter for gasoline and P18.10 per liter for diesel. — VBL, GMA News