Improving situation in the Middle East prompting a possible rollback in fuel prices next week.

World oil prices continued to slide on the third day of trading this week.

Jetti Petroleum President Leo Bellas sees further incremental price reductions in the last 2 trading days due to positive development in the Middle East as prospects of a peace deal is again possible.

From August 3-5, fuel prices have gone down by the following amounts:

Diesel       P4.40/L ⬇️

Gasoline  P4.70/L ⬇️

Kerosene P4.80/L ⬇️

But Bellas cautions motorists from expecting too much, as oil prices are not likely to go back to pre-war levels soon.