Oil firms to enforce marginal price rollbacks starting weekend 80 SHARES Share it! The energy department attributed price swings in the recent decision of oil producers to impose production cutback, hence, the rally in prices in the first week of December. In last week’s trading, however, global prices reverted to the softer pace, hence, the price rollbacks that the local oil companies will be implementing from this weekend through the coming days. Filipino consumers enjoyed rollbacks of straight two months in October and November, but volatility will be “a bit of a game” in the world market this December, as assessed by market watchers and industry analysts. The recent crash in oil prices has been posing new worries to oil producers on recovery of investment returns, but for importing countries like the Philippines, this will stir up temporary good news to its customers.

Source: Manila Bulletin December 15, 2018 01:07 UTC