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Another round of fuel price rollback possible next week: stakeholder

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Alvin Elchico, ABS-CBN News

<p>MANILA - Consumers may enjoy another round of rollback next week as world oil prices continue to dip due to fears of a banking crisis after the collapse of several banks in the US and Switzerland, a stakeholder said on Friday.</p><p>Jetti Petroleum President Leo Bellas said there could be another reduction of over P1 per liter for diesel and gasoline. </p><p>Based on the first 4 trading days, imported fuel prices have dropped by more than P1 per liter or:</p><p>- Diesel P1.45 per liter<br/>- Gasoline P1.38 per liter<br/>- Kerosene P1.99 per liter </p><p>Bellas explained there is a fear of lower demand in the coming months as a result of the banking crisis and recession jitters. </p><p>But there are still factors that may push prices up soon like the rebound in China&#x27;s demand due to the opening up of its economy despite COVID cases, he said.</p><p>There is also an impending big time rollback in LPG prices on April 1. </p><p>Due to the expectations of a rollback, Regasco President Arnel Ty has announced the company would implement another P1 per kilo rollback, the second one in 2 weeks in anticipation of the big reduction in prices. </p><p>According to Ty, as of Friday, the contract price of LPG has dropped by $170 per metric ton but there are still 7 days to go before it becomes final by month&#x27;s end. </p><ul class="op-related-articles">	<li><a href="https://news.abs-cbn.com/business/03/20/23/diesel-gas-kerosene-rollback-set-for-march-21">Diesel, gas, kerosene rollback set for March 21</a></li>	<li><a href="https://news.abs-cbn.com/business/03/13/23/diesel-kerosene-price-rollback-effective-march-14">Diesel, kerosene price rollback effective March 14</a></li></ul><div><strong>RELATED VIDEO</strong></div><figure class="op-interactive"><iframe allow="autoplay; fullscreen" frameBorder="0" height="100%" id="ivsplayer01" scrolling="no" src="https://player.ivideosmart.com/ivsplayer/v4/dist/html/iframe-src.html?iframeid=ivsplayer01&amp;key=e8c22c015ca9eafa76f1e3edfa03c603&amp;spid=3001339&amp;vid=2417177" width="100%"></iframe></figure><div class="iwantbar">Watch more News on <a href="https://www.iwanttfc.com/#!/browse/Genres/News/tag_id_genres/id_news" target="_blank">iWantTFC</a></div>

Consumers may enjoy another round of rollback next week as world oil prices continue to dip, a stakeholder said. 

Another round of fuel price rollback possible next week: stakeholder

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Another round of fuel price rollback possible next week: stakeholder

Alvin Elchico,

ABS-CBN News

Published March 24, 2023 02:15 PM PHT

|

Updated March 24, 2023 03:18 PM PHT

Read More:

rollback

price rollback

gasoline

kerosene

diesel

petroleum products

oil

PG

DOE

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