Big-time oil price rollback expected on May 7

MANILA, Philippines — A big-time oil price rollback is expected in the first week of May. 

Citing four-day trading prices, gasoline prices are anticipated to have a markdown by a maximum of P0.45 per liter and diesel prices are projected to go down by a maximum of P0.70 per liter.

Kerosene prices, on the other hand, are also expected to have a rollback by up to P0.70 per liter.

Last week, oil companies also rolled back its pump prices.

The following are the adjustments in oil prices:

• Diesel prices - Down by P0.45 per liter
• Gasoline prices - Down 0.25 by P per liter
• Kerosene prices- Down by P0.90 per liter

Final price adjustments next week will be announced by oil companies on Monday and would be implemented by Tuesday next week.