Diesel, kerosene seen to roll back; gasoline may go up next week

Motorists should expect mixed movements in fuel pump prices in the coming week with diesel and kerosene seen to go down while gasoline may go up.

Citing oil industry estimates based on four-day trading, Department of Energy-Oil Industry Management Bureau Director III Rodela Romero said, “We will experience a mixed movement in the prices of petroleum products by Tuesday next week.”

The estimated range of fuel price adjustments are as follows:

• Gasoline - increase of P0.40 to P0.60/liter
• Diesel - rollback of P0.60 to P0.85/liter
• Kerosene - rollback of P0.60 to P0.80/liter

The Energy official said final pump price adjustments will be determined after Friday’s trading.

“These domestic pump adjustments are attributed to the lingering factors of geopolitical conflict in the Middle East and the unexpected reduction of fuel demand in big economies like China and US,” Romero said.

“However, analysts say that the volatility in the energy markets is expected to continue,” she added.

Oil companies usually announce price adjustments every Monday, to be implemented the following day.

Effective Tuesday, April 16, fuel firms hiked the prices per liter of diesel by P0.95, kerosene by P0.85, and gasoline by P0.40.

—VAL, GMA Integrated News