FUEL prices are set to decrease for the second straight week.

The four-day trading at Mean of Platts Singapore (MOPS) indicated that gasoline could see a minimal drop of around P0.30 to P0.75 per liter, a report by Manila Bulletin said.

The report added that prices of diesel and kerosene are expected to go down by at least P1 per liter.

Diesel could decrease somewhere between P0.90 and P1.35 per liter, while prices of kerosene may be slashed by P1.30 to P1.45 per liter.

Analysts from the Department of Energy’s (DOE) Oil Industry Management Bureau (OIMB) and Jetti Petroleum said the expected rollback is attributed to the increase in global oil production and a positive outlook on world trade talks.

“OPEC+’s decision to increase June oil production levels, combined with United States (US) or global tariff uncertainty has raised concerns about a possible supply glut,” said Rodela Romero, OIMB director in the report.

OilPrice.com has reported that Kazakhstan, which is part of OPEC+, will not pause its crude production this month and may even surpass the organization’s quota.

Kazakhstan produces 1.468 million barrels of crude oil per day (bpd) under the OPEC+ agreement, the report stated.

• Tags
• #Mean of Platts Singapore
• #MOPS
• #Gasoline
• #Fuel Prices
• #Diesel
• #Kerosene
• #Department of Energy
• #DOE Oil Industry Management Bureau
• #Jetti Petroleum
• #Kazakhstan