MOTORISTS should look forward to another round of rollback in pump prices to be implemented in the coming week, which could mark two straight weeks of fuel price reductions.
Citing results from international trading in the past four days, Department of Energy-Oil Industry Management Bureau Assistant Director Rodela Romero said the estimated downward adjustments are as follows:
* Diesel – P1 to P1.35 per liter
* Kerosene – P1.30 to P1.45 per liter
* Gasoline – P0.30 to P0.75 per liter
The Energy official cited the following reasons which contributed to the anticipated rollback in petroleum prices:
* OPEC +’s decision to increase June oil production levels combined with US or global tariff uncertainty has raised concerns about a possible supply glut
* Uncertainty over the outcome of trade talks between the US and China, the world’s two largest oil consumers
Fuel firms announce official price adjustments every Monday, to be effective on the following day.
Last Tuesday, May 6, local oil companies slashed the prices per liter of gasoline, diesel, and kerosene by P0.55, P0.65, and P0.90, respectively.
The latest price movements brought the year-to-date price adjustments to stand at a total net increase of P3.10 per liter for gasoline and P3.00 per liter net increase for diesel.
Kerosene, meanwhile, posted a total year-to-date net decrease of P2 per liter. (GMA Integrated News)
