Fuel Forecast: Up to PHP 1.00 rollback for gas, diesel next week

Last Tuesday, oil players implemented a rollback that saw fuel prices go down by PHP 1.85 per liter for diesel and PHP 1.20 for gasoline.

With the week coming to an end, we're glad to report that motorists can look forward to even lower fuel prices on the next adjustment schedule.

According to our friends over at PH Fuel Watch, the latest crude oil prices suggest a rollback is on the cards for March 28. The current estimates could see diesel prices drop by a further PHP 1.30 per liter, while gasoline is estimated to have a PHP 1.00 per liter rollback.

Global oil prices settled lower as the United States announced they are not in a rush to refill their Strategic Petroleum Reserves (SPR), which were used to compensate for the lack of supply of oil in the past months. Thus, investors did not have to worry about supply issues for the coming days. Reuters reports Brent crude slid to USD 75.43 per barrel, while WTI crude dropped to USD 69.44 per barrel.

So in case your tanks are running low again after taking advantage of this week's fuel price adjustments, you can look forward to your top-up next week with more fuel for the same amount of money.