Diesel, kerosene prices seen going down by about P10 next week

MANILA, June 20 ------ Diesel and kerosene prices are expected to go down by about P10 next week.

Based on the first 4 days of trading on the world market, fuel prices have fallen by the following amounts:

- Diesel - P10/L decrease

- Gasoline - P6/L decrease

- Kerosene - P10.70/L decrease

The Department of Energy (DOE) said Thursday that oil prices are seen to drop following the announcement of the signing of an initial peace deal between the United States and Iran. DOE Undersecretary Rino Abad said the reduction in prices of petroleum products is expected to fuel prices to P70-80 per liter. Despite the positive development, the DOE official assured continuous monitoring with the hopes of pump prices returning to the pre-crisis level, which was at P50-60 per liter.

Source: news.abs-cbn.com