Big time oil price rollback set on October 10

The following petroleum companies announced their rollbacks, which will take effect on Tuesday: Diesel - P2.45/L decreasePETRO GAZZ, JETTI PETROLEUM Diesel - P2.45/L decrease"Nanumbalik ang economic concerns. Usually po pag may ganoon talagang ang unang maiisip ay magkakaroon ng problema sa demand, humina," Leo Bellas, President of Jetti Petroleum said.

"Although mayroon pa ding supply and demand concerns, supply is still tight. Pero nakita ng merkado na nangyari sa economic data baka manatiling mataas ang interest rates." Authorities recently approved a P1 increase in the minimum fare for jeepneys after oil prices went up for at least 10 weeks due to Russia and Saudi's supply curbs set for until the end of the year.

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