Motorists can expect a significant reprieve at the pump this week as the latest fuel price tracker from Philstar Biz indicates a major rollback effective June 2. Gasoline prices are projected to drop by P1.20 to P1.40 per liter, while diesel may decrease by P1.00 to P1.20 per liter.
Kerosene, commonly used by households and the aviation sector, is also expected to see a reduction of around P1.00 per liter. The price adjustments follow movements in the global oil market, with international benchmark prices declining in recent weeks.
The rollback marks a reversal from the previous week's price hikes and provides relief to consumers grappling with elevated fuel costs. Local oil companies are expected to announce final adjustment amounts on Monday, with the new prices taking effect on Tuesday.