Mixed movements in fuel prices seen next week

Motorists should expect mixed movements in the retail prices of petroleum products next week, according to the Department of Energy - Oil Industry Management Bureau (DOE-OIMB) on Friday.

Citing industry estimates based on the Mean of Platts Singapore (MOPS) trading in the past four days, DOE-OIMB Assistant Director Rodela Romero said the following are the projected movements in pump prices:

Gasoline - more or less rollback of 0.05
DIesel - more or less increase of 0.80
Kerosene - more or less increase of 0.45

These estimates are excluding the operating cost of oil companies and other premiums, according to Romero.

"Crude trims gains on US - EU trade tensions over Greenland and the optimism about China’s demand after stronger-than-expected GDP and boosted outlook for their crude consumption. Also, the geopolitical tensions continued to put risk premiums on oil products," said Romero. 

"Final trading of MOPS for the week will be determined after today’s trading," he added. 

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