Following a series of oil price hikes, including a nearly ₱3.00 increase, consumers can expect relief next week as the Department of Energy (DOE) announced a potential rollback in fuel prices.

Based on initial estimates, expected reductions are as follows:

• Gasoline: ₱0.50 to ₱0.75 per liter
• Diesel: ₱1.00 to ₱1.15 per liter
• Kerosene: ₱0.90 to ₱1.00 per liter

The DOE is closely monitoring global oil market trends, which have contributed to the recent fluctuations in fuel prices. These reductions are expected to provide temporary relief to motorists and households, especially after the consecutive price increases seen in recent weeks.

The final price adjustments will be announced by oil companies over the weekend and are set to take effect next week.