Price rollback in gasoline, diesel, kerosene seen next week

Fuel prices are expected to roll back next week, according to the Department of Energy-Oil Industry Management Bureau (DOE-OIMB) on Friday.

According to DOE-OIMB Director III Rodela Romero, the following are the estimated ranges of rollback on May 7, based on the 4-day trading:

Gasoline - P0.20 to P0.45 per liter
Diesel - P0.50 to P0.70 per liter
Kerosene - P0.60 to P0.70 per liter

Romero said that "relevant international news contribute to the downward pressures on oil market."

These are:

• Expectations of an Israel - Gaza ceasefire
• Uncertainties about US interest rate reduction
• Rising oil stocks/inventory of the US. 

He added that final adjustments will be determined after today’s trading. —VAL/KG, GMA Integrated News