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Oil Prices To Drop Starting November 30, Here’s a rollback update…

Update on Oil Prices Rollback Starting November 30

OIL PRICES – The 4th rollback of fuel prices since the series price increases will take place starting November 30, 2021.

The public utility vehicle (PUV) drivers greatly suffered financially amid the series of pump price increases amid the crisis in the Philippines. It is aside from the fact that drivers’ income was greatly affected by the reduced seating capacity previously implemented to pave the way for social distancing inside jeepneys and other public vehicles.

Furthermore, PUV drivers lost a big part of their commuters amid the crisis due to the setup adopted by some companies and schools. Many public and private companies adopted the work-from-home set up for the safety of their employees and to reduce the physical workforce to give way for the health protocols.

For more than a year now, most students are also under blended learning as face-to-face classes are prohibited in the pursuit to prevent the spread of the virus. Undeniably, the students take a huge part of the daily commuters.

Oil Prices Rollback
Photo: PhilKotse

Amid the series of oil price hikes, several transport groups united in their appeal for a P3.00 increase in the minimum fare in jeepneys. From P9.00, it is proposed to increase it to P12.00. They called for assistance from the government. Amid it, there are calls to suspend the excise tax on oil which is eyed as a factor in the oil price hike.

The government allocated a budget for fuel subsidies for drivers who are greatly affected by the oil price hike. Meanwhile, for the fourth time now since the said series of pump price increases, the oil prices are set to drop again.

Based on a report on ABS-CBN News, the following are the oil prices rollback that are set to be implemented starting November 30, 2021:

  • Gasoline – P1.10 – P1.20 per liter
  • Diesel – P0.60 – P0.70 per liter
  • Kerosene – P0.50 – P0.60 per liter

You may also visit – Fuel Subsidy: LTFRB Reveals How Much Drivers will Receive

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