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Big-time oil price rollback this week

Motorists can heave a sigh of relief as oil companies will implement a big-time oil price rollback this week.

The Department of Energy estimates that diesel prices could go down by P1 to P1.35 per liter, P1 to P1.10 per liter for gasoline, and P0.80 to P0.90 centavos per liter for kerosene.

The oil price rollback is the result of the lower crude prices in the world market.

There has been six oil price increases since the start of the year, the last of which was Feb. 6 when kerosene prices went up by 60 centavos per liter, 50 centavos for gasoline, and 35 centavos for diesel. (Bella Gamotea)

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