A decrease in the prices of petroleum products is expected next week, according to the Department of Energy (DOE).
The estimated decrease in gasoline prices is between P1 to P1.20 per litre. Meanwhile, diesel prices are projected to decrease by P0.40 to P0.60 per litre, and kerosene by P0.45 to P0.65 per litre, says Rodela Romero, Assistant Director of the DOE - Oil Industry Management Bureau.
The rollback is due to the recent increase in the United States' oil inventory, a surge in its oil production, and a slowdown in global demand.
Last Tuesday, gasoline prices were raised by P0.75 per litre, diesel by P1.50 per litre, and kerosene ranged from P0.75 to P0.80.
The final rollback prices will be disclosed on Monday.
(Photo by Vera Victoria)