Oil price rollback expected this week

Following a series of oil price hikes, pump prices are expected to be rolled back this week, the Department of Energy (DOE) said over the weekend.

The DOE sees a possible rollback of R0.40-R0.50 per liter of gasoline and R0.25-P0.35 per liter of diesel. The price of kerosene is expected to stay the same. Just last April 3, local oil companies hiked the pump prices by R0.90 per liter of gasoline and R1 per liter of diesel.

Adjustment in world market prices is credited for the impending rollback. (Bella Gamotea)