THE Department of Energy (DOE) is projecting for fuel prices to decline next week, marking the third straight time that the pump prices will be rolled back.

Based on a four-day global oil market trading, gasoline prices may reduce by P0.10 to P0.40 per liter, diesel by P0.20 to P0.60 per liter, and kerosene by P0.30 to P0.60 per liter.

In a Philippine Star report, Rodela Romero, assistant director of the Oil Industry Management Bureau, attributed the anticipated adjustments to signs of economic downshift in the U.S. and globally.

She noted that concerns over a potential "supply glut" amid plans by OPEC+ to increase oil production next month have also kicked into the low tension on prices.

Last Tuesday, oil companies enforced a rollback of P1.70, P0.90, and P1.80 per liter for gasoline, diesel, and kerosene, respectively.(Nikelyn Pahayahay, BiPSU Comm Intern)

• Tags
• #Department of Energy
• #DOE
• #Fuel Price
• #Rollback
• #Diesel
• #Gasoline
• #Kerosene
• #Oil Industry Management Bureau