Another big-time oil price rollback may be expected next week following movements in the global oil market, according to the Department of Energy (DOE), RH Jecelle Ricafort reported.
In an interview with DZRH News, DOE-Oil Industry Management Bureau Director Rino Abad said the projected price reduction was based on two days of trading in the international market.
While Abad did not disclose specific figures, he said motorists could expect substantial price cuts in diesel and kerosene. He also expressed hope that the downward trend would continue until Friday.
Meanwhile, Abad confirmed that some fuel stations in Metro Manila failed to implement the full price rollback in one adjustment following the latest mega oil price reduction.
He said the bureau would consolidate reports from its field offices before endorsing the findings to its legal department for appropriate sanctions, which may include imprisonment and fines.
In a DZRH News field inspection along Andrews Avenue in Pasay City, one gasoline station was found to have implemented a staggered price reduction of nearly P17 per liter.
Instead of implementing the full P16.80-per-liter rollback set by the DOE, the station initially reduced gasoline prices by only P12.20. Its cashier and pump attendants said the remaining reduction of more than P4 per liter would be implemented later this week.
