GASOLINE, DIESEL, KEROSENE PRICE ROLLBACK SEEN NEXT WEEK

A rollback on the prices of gasoline, diesel, and kerosene is expected next week, the Department of Energy-Oil Industry Management Bureau (DOE-OIMB) said Friday.

According to DOE-OIMB Director III Rodela Romero, the following are the estimated ranges of rollback on April 30, based on the 4-day trading:

Gasoline - P0.20 to P0.45

Diesel - P0.40 to P0.60

Kerosene - P0.70 to P0.90

Final adjustments would be determined after the Mean of Platts Singapore (MOPS) trading on Friday, Romero said.

“Oil prices settled lower due to easing fears of an Iran-Israel escalation after Tehran said it would not seeks to retaliate to Israel strike last week,” Romero said.

“Added on the said relief on the oil markets are the uncertainty in the demand outlook and the continuous increase in the inventory of crude of the US,” he added.

However, Romero noted that, according to energy analysts, the volatility on oil prices still prevails. —Joviland Rita/ VAL, GMA Integrated News

This article Gasoline, diesel, kerosene price rollback seen next week was originally published in GMA News Online.

2024-04-26T01:10:35Z dg43tfdfdgfd