According to a report by ABS-CBN, fuel prices in the Philippines declined for the third straight trading day, raising expectations of a rollback next week. The consecutive drops come amid easing global oil prices and improved supply conditions.
Industry sources indicated that the sustained downtrend could lead to a reduction in pump prices by up to PHP 1.50 per liter for gasoline and PHP 1.00 per liter for diesel in the upcoming week. This follows a series of price hikes earlier this year that pushed inflation concerns.
The potential rollback would provide relief to consumers and transport groups, who have been grappling with elevated fuel costs. The Department of Energy continues to monitor the situation, noting that any adjustment will depend on global market trends and the peso-dollar exchange rate.