Oil rollback expected on November 7

MANILA, Philippines — Motorists can expect lower oil prices on Tuesday, November 7.

According to industry insiders on Friday, gasoline prices may see a potential drop of P0.40 to P0.60 per liter, while kerosene prices could experience a decrease of P0.80 to P1.05 per liter. 

Diesel, which is usually used for public utility vehicles, is expected to decrease at P1.00 to P1.30 per liter.

On October 31, gasoline prices increased by P0.45 per liter while kerosene and diesel prices were reduced by P1.20 and P1.25 per liter, respectively.

The recent price changes led to a year-to-date net increase of P14.20 per liter for gasoline, P10.45 per liter for diesel, and P5.04 per liter for kerosene.

Oil companies will implement their final price adjustments on Tuesday.