Fuel price rollback seen this week

MANILA, Philippines — A minimal price rollback of 10 centavos on diesel is expected after the Holy Week.

Unioil Petroleum Philippines said in its forecast that fuel prices are expected to go down this week.

Diesel could go down by 10 centavos per liter and gasoline prices would remain the same, the firm said.

During the past trading week, crude oil prices slightly declined last Wednesday as US data showed lower inventory drawdown.

The oil price cut comes a week after oil companies implemented hefty price hikes across fuel products.

Last week, oil companies raised gasoline prices by P1.05 per liter, diesel by 75 centavos per liter and kerosene by 60 centavos per liter.