Gasoline poised for fresh price hike; diesel, kerosene expected to go down next week

MANILA, May 9 ------ Motorists may expect a rollback in diesel and kerosene prices, while gasoline may go up next week, said the Department of Energy.

Based on the four-day trade monitoring in the Mean of Platts Singapore, diesel and kerosene may go down by P9 and P12 per liter, respectively, while gasoline is expected to go up by P1.60 to P1.70 per liter. DOE Oil Industry Management Bureau Director Rino Abad said oil is now going back to its normal market-based prices, before it was affected by the Middle East tensions that began February this year.

He said the oil prices now fluctuate at around $70 to $95 per barrel, nearing the normal market-based prices of $55 to $65 per barrel. “Medyo elevated pa, pero hindi na malayo,” Abad told DZMM Teleradyo.

Source: news.abs-cbn.com