P1 oil price rollback next week — DOE

The Department of Energy (DOE) on Friday announced that the prices for diesel and gasoline will each be rolled backby at least P1 next week as global oil prices dropped, a television report said on Friday.

 

The DOE noted that diesel prices may go down to P38 per liter, and gasoline to P50 per liter, Julius Segovia reported on GMA News TV’s “Balitanghali.”

 

Still, DOE said that they are still keeping an eye on world market price increases following the Boston Marathon bombing in the US.

 

Meanwhile, the National Council for Commuter’s Safety and Protection, a consumer welfare group, called for a lower jeepney fare of P7.50 following the price rollback. The current minimum jeepney fare is at P8.

 

Transport groups earlier said that it will automatically cut jeepney fares if the diesel price will plunge to P35/L, the television report said.

 

Last week, oil company Flying V also had a price rollback. — TJD, GMA News