Gasoline price seen to roll back; diesel, kerosene may increase next week

Motorists should expect mixed movements in pump prices in the coming week based on the oil trading in the past four days. 

Department of Energy-Oil Industry Management Bureau Director III Rodela Romero said the following are the estimated adjustments in fuel prices next week:

Gasoline - Rollback of P0.60 to P0.90 per liter

Diesel - Increase of P0.40 to P0.60 per liter

Kerosene - Increase of P0.75 to P0.90 per liter

Romero cited expectations on OPEC+ decision to continue their production cut, seasonal demand uptick due to forthcoming summer season, and announcement of US on the release of millions of barrel of gasoline product from government reserves to lower prices at the pump as primary reasons for the anticipated adjustments.

Final computations on per liter adjustments will depend on Friday’s trading, the Energy official said.

Oil companies usually announce price adjustments every Monday, to be implemented the following day.

The latest price movements brought the year-to-date adjustments to stand at a net increase of P7.55 per liter and P4.85 per liter for gasoline and diesel, respectively.

Kerosene, on the other hand, has a year-to-date net decrease of P1.05 per liter. —VAL, GMA Integrated News