DOE sees oil price rollback of P0.90/liter

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The Department of Energy said it expects a price rollback of as much as P0.90 per liter next week to reflect the movement of prices in the world oil market.

Gasoline pump prices are expected to go down by P0.20 to P0.45 per liter, diesel by P0.40 to P0.60 per ltier and kerosene by P0.70 to P0.90 per liter. Romero said oil prices settled lower due to the easing fears of an Iran-Israel escalation after Tehran said it would not seeks to retaliate to Israel’s strike last week.

Total adjustment of the products year-to-date stood at net increase of P10.35 per liter for gasoline, P8.15 per liter for diesel and P0.50 per liter for kerosene.

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MlaStandard /  🏆 20. in PH

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