Oil price rollback highly possible next week, says DOE
MANILA, Philippines — There’s a high chance that prices of petroleum products will roll back next week, according to the Department of Energy.
As of Friday, May 29, the estimated decrease on oil prices are:
- Diesel - P7 to P8 per liter
- Gasoline - P4 per liter
- Kerosene - P9 to P10 per liter
According to DOE Oil Industry Management Bureau Director Rino Abad, the anticipated rollback is brought by the continuous negotiations between the United States and Iran, and the recent pronouncement of US President Donald Trump to end the aggression.
“Ito ho yung malaking bagay na nagpapababa ng mga ganitong adjustments,” Abad said in an interview with DZBB on Friday, May 29. (These are the major things that lessen the [oil price] adjustments)
Abad noted that these estimates may change over the weekend.
Here are the estimated new prices of oil products for next week should the rollback proceed:
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