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Big-Time Oil Price Rollback Set this December 7

Details about the Big-Time Oil Price Rollback Set Next Week

BIG-TIME OIL PRICE ROLLBACK – Another rollback in the prices of oil in the Philippines is set to take place this December 7, 2021.

A lot of people in the Philippines greatly suffered from the series of oil price hikes that recently took place amid the crisis. Among those who suffered financial struggles are the public utility drivers (PUVs) who hardly made profits because of the high prices of fuel.

Prior to the oil price hikes, PUV drivers were already in a midst of the challenge as the seating capacities in public vehicles were reduced to give way for social distancing. It is aside from the fact that a huge part of the commuters temporarily did not take public commute to their offices or school.

Several companies in the Philippines adopted a work-from-home setup while most schools are under blended learning. The students need not go to school as their lessons are delivered through online classes or learning materials.

Big-Time Oil Price Rollback
Photo: Philippine Star

Amid the “new normal” and the series of oil price hikes, transport groups united in calling for an additional P3.00 on the minimum fare in jeepneys. The government assured the drivers of a fuel subsidy.

Since the last few weeks, oil price rollbacks are also happening. Based on a report on ABS-CBN News, a big-time oil price rollback is set to take place this December 7, 2021. Gasoline, diesel, and kerosene prices per liter are set to decrease.

According to the report, authorities in the oil industry explained that the big-time oil price rollback is due to the decrease in the oil demand amid the travel bans implemented in the country. The following rollbacks are expected:

  • Gasolina – P2.50 – P2.70 per liter
  • Diesel – P2.70 – P2.80 per liter
  • Kerosene – P2.70 – P2.80 per liter

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