Motorists can expect some relief Tuesday as oil companies prepare to slash off their fuel rates for the first time this year following weeks of soaring pump prices.
Seaoil and Caltex have both announced the following price rollbacks for Tuesday, March 22:
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The Department of Energy on Monday attributed the scheduled fuel price rollback to improving global oil supply even as the war between Russia and Ukraine persists.
"We cannot really speculate at this point but the conditions around are getting better," Energy Usec. Gerardo Erguiza said in an interview on GMA News' Unang Balita.
Asked if Filipinos can expect more fuel price rollbacks in upcoming weeks, Eguiza said the global situation remains "volatile" and advised the public to conserve energy instead.
The government has released fuel subsidies to the public transport sector, and farmers and fishermen to cushion the impact of surging fuel prices.
Authorities are also studying implementing a four-day workweek to help workers cope with the situation.
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