Double-digit rollback for diesel, kerosene set this week

MANILA, Philippines — Diesel and kerosene prices will post double-digit rollbacks from Tuesday, April 28, to May 4, Energy Secretary Janet Garin said Monday, April 27.

Garin said the Department of Energy expects a minimum reduction of P12.94 per liter for diesel and P15.71 per liter for kerosene.

Gasoline prices, however, are projected to increase by P0.53 per liter.

The adjustments mark the third straight week of rollbacks following a run of oil price hikes that began on February 28 amid tensions in the Middle East.

The first rollback took effect on April 14, with diesel prices cut by P20.89 per liter, followed by a P24.94 per liter reduction on April 21.

Supply outlook

Garin said the country has about 54 days of oil supply as of April 24.

She provided the following inventory estimates by product:

• Gasoline: 24,631.55 thousand liters (53.91 days)
• Diesel: 34,654.20 thousand liters (54.61 days)
• Kerosene: 112.19 thousand liters (168.74 days)
• Jet fuel: 5,650.63 thousand liters (70.83 days)
• Fuel oil: 2,606.38 thousand liters (67.55 days)
• LPG: 10,425.18 thousand liters (38.44 days)

The Department of Energy said it is constantly monitoring global oil movements and local supply conditions as price adjustments take effect.