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Another oil price rollback seen next week

Prices of basic goods likely rose by 2.4-3.2 percent in February, with cheaper electricity, fuel, and food costs softening price movements, a unit of The Bangko Sentral ng Pilipinas says.

Metro Manila (CNN Philippines, November 11) — Oil firms are expected to again cut pump prices next week, according to a forecast by Unioil Petroleum Philippines Inc. on Saturday.

Unioil said the cost of diesel may go down by ₱2.80 to ₱3.00 per liter, while gasoline may see a rollback of ₱0.50 to ₱0.70 per liter.

The price cuts are expected from Nov. 14 to 20, it added.

Earlier this week, fuel companies lowered the prices of petroleum products to around ₱0.45 to ₱1.10.

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