New price cuts on oil products loom next week

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Motorists can expect another rollback in pump prices in the coming week, Oil Industry Management Bureau Director Rino Abad confirmed Friday. READ:

Abad said there is an expected price rollback “for all products” by Tuesday next week. Oil companies usually announce price adjustments every Monday, to be implemented on the following day.

Meanwhile, Senator Win Gatchalian said the Senate’s proposed 2023 budget highlights social safety nets in a bid to support economic recovery amid continuing uncertainties brought about by the Russia-Ukraine conflict and the COVID-19 pandemic. Financial subsidies provided by the government include the subsidy for the transport sector called the Pantawid Pasada Program and the Pantawid Pamilyang Pilipino Program for the poorest of the poor.

 

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