Oil price rollback expected on June 11

MANILA, Philippines —  A big-time oil price reduction is expected in the second week of June. 

Citing four-day trading prices, gasoline prices could decrease by up to P0.93 per liter, while diesel prices may see a maximum rollback of P1.49 per liter.

Meanwhile, kerosene prices are also anticipated to be slashed by as much as P1.46 per liter.

On Tuesday, oil companies implemented mixed adjustments to their pump prices.

The following are the adjustments in oil prices:

• Diesel prices - Up by P0.60 per liter
• Gasoline prices - Down 0.90 by P per liter
• Kerosene prices- Up by P0.80 per liter

Final price adjustments next week will be announced by oil companies on Monday and will be implemented by Tuesday next week.