Major rollback for diesel, kerosene seen next week; dip in gasoline prices also expected

A major rollback for diesel and kerosene is expected next week as well an easing of pump prices for gasoline. 

Department of Energy - Oil Industry Management Bureau (DOE-OIMB) assistant director Rodela Romero said the following are the possible varying adjustments in the prices of oil products based on past four days of trading in the Mean of Platts Singapore (MOPS):

Gasoline - more or less rollback of (0.40)

Diesel - more or less rollback of (3.00)

Kerosene - more or less rollback of (3.00)

Among the factors that affected the projection of fuel prices next week are the possible Ukraine-Russia ceasefire that could lift Western sanctions on Russian oil; as well as investors assessing prospects of oversupply in the oil market. 

“Final adjustments would be determined after Friday’s MOPS trading and oil companies inclusion of their operating cost and other premiums,” Romero said.

Jetti Petroleum, however, had the following estimated movements in fuel prices:

Diesel - 3.00 to -3.20

Gasoline - 0.00 to +0.10

“Significant drop on the price of diesel primarily due market correction as crude oil prices eased on hopes of a US-brokered ceasefire in Ukraine,” Jetti said. 

“While Asian gasoline prices have eased down slightly as well, the premium and freight components have remain elevated due to tight supply-demand balance,” it added.

Oil companies announce official price adjustments every Monday, to be implemented on the following day. —VAL, GMA Integrated News