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Brix Lelis - The Philippine Star
May 3, 2025 | 12:00am
The Department of Energy has indicated a per-liter price rollback of P0.25 to P0.70 for gasoline, P0.30 to P0.80 for diesel and P0.50 to P0.70 for kerosene.
The STAR / Walter Bollozos
MANILA, Philippines — After two straight rounds of hikes, pump prices of petroleum products are poised to decline next week amid a sluggish demand outlook.
The Department of Energy has indicated a per-liter price rollback of P0.25 to P0.70 for gasoline, P0.30 to P0.80 for diesel and P0.50 to P0.70 for kerosene.
The estimates reflect the trading results in the global oil market over the past four days.
Oil Industry Management Bureau assistant director Rodela Romero linked the estimated adjustments to concerns about an oversupply in global markets.
She cited the recent increase in US crude inventories, along with indications that Saudi Arabia may hike its oil production.
The “erratic” US tariff policies also weighed down oil prices amid worries over weakening global economic growth and fuel demand, Romero added.
Yesterday’s trading would determine the final price adjustments, which will be announced on Monday and take effect the following day.
Last Tuesday, oil firms hiked gasoline, diesel and kerosene prices by P1.35, P0.80 and P0.70 per liter, respectively.
