A possible price rollback of gasoline and other petroleum products is expected in the following weeks.
This is according to an official of an oil company who doesn’t want his name to be mentioned. According to him, oil price rollbacks might start by Monday or Tuesday next week due to the oil price drop in the world market.
Senate committee on ways and means Chairman and Senator Ralph Recto said that an expected Php5.00 rollback on oil prices might occur after the United States dropped credit ratings. This is due to the Philippine peso going strong and the U.S. oil consumption going low.
