Diesel, kerosene rollback likely next week, says DOE
· philstarMANILA, Philippines — Diesel and kerosene prices may see a major rollback next week, while gasoline could still post another increase, the Department of Energy said Friday, May 8.
DOE Oil Industry Management Bureau Director Rino Abad said there is now a strong chance that diesel and kerosene prices will go down in the next round of fuel price adjustments.
"Mataas na ang tsansa na magkaroon tayo ng rollback sa diesel and kerosene," Abad said in an interview with dzMM. "May kaunting increase naman tayo sa gasoline."
(There is a high chance that we will have rollback in diesel and kerosene. Meanwhile, there is small increase for gasoline.)
Based on the DOE's computation for the first four trading days, Abad said diesel could fall by around P9 per liter, while kerosene could drop by around P12 per liter.
"Ang diesel bababa ng around P9 for the four-day trading. Ang kerosene, nasa P12 na," Abad said. (Diesel will decrease by around P9 for the four-day trading. As for kerone, that would be P12.)
Gasoline, however, may still rise by P1.60 to P1.70 per liter, he said.
Gasoline seen pricier again
The expected price movement would bring pump prices closer to their usual pattern, with gasoline again more expensive than diesel.
Abad said the estimated pump price range for diesel could ease to around P70 to P95 per liter, while gasoline may remain higher at around P75 to P105 per liter.
"Babalik siya sa dati, kasi dati naman mas mahal talaga ang gasolina kaysa diesel," Abad said. "Nitong mga nakaraang linggo lang na tumaas ang presyo ng diesel nang todo." (It would return to what it was before, because before, gasoline was already pricier than diesel. It was only these past weeks that diesel in price increased by a lot.)
Asked if fuel prices may return next week to the previous pattern where gasoline costs more than diesel, Abad said: "Yes."
The forecast remains based on partial trading data and may still change depending on final market movements before oil companies announce next week's adjustments.
The expected rollback comes after diesel prices surged in recent weeks as the Philippines felt the impact of the Middle East oil shock. Pump prices went above P100 per liter while prompted government tried to secure reserve fuel supply.