EXPECT another round of price rollbacks in gasoline, diesel, and kerosene next week, the Department of Energy-Oil Industry Management Bureau (DOE-OIMB) said on Friday.
According to DOE-OIMB Director III Rodela Romero, the following are the estimated ranges of rollback on May 14:
Gasoline – P 2.00 to 2.25 per liter
Diesel – P 0.50 to 0.85 per liter
Kerosene – P 0.90 to 1.00 per liter.
The rollback is the third straight week of cuts for gasoline and fourth for both diesel and kerosene.
“Oil prices fell in Asian trade as industry data pointed to the sustained increase in US inventories,” Romero said as to what contributed to the rollback.
