MANILA — Anticipate a welcome relief for consumers next week as the Department of Energy-Oil Industry Management Bureau (DOE-OIMB) forecasts a rollback in gasoline, diesel, and kerosene prices.
Director III Rodela Romero provided estimated ranges for the rollback on April 30 based on 4-day trading data:
Gasoline: Expected decrease of P0.20 to P0.45
Diesel: Anticipated drop of P0.40 to P0.60
Kerosene: Projected drop of P0.70 to P0.90
However, final adjustments are subject to the Mean of Platts Singapore (MOPS) trading results on Friday, Romero stated.
The decline in oil prices can be attributed to reduced tensions between Iran and Israel, with Tehran signaling a lack of intent to retaliate against Israel’s recent strike.
Additionally, factors such as uncertain demand outlook and ongoing increases in US crude inventories contribute to the easing in oil markets.
Despite this positive development, Romero emphasized that energy analysts foresee continued volatility in oil prices.
(By el Amigo/MNM)
