MOTORISTS can look forward to substantial fuel price rollbacks next week, the Department of Energy (DOE) confirmed Friday.
DOE Oil Industry Management Bureau Director Rino Abad, speaking over Super Radyo dzBB, said initial trading data for the first four days of the week points to gasoline falling by around ₱14 per liter, diesel by ₱5 per liter, and kerosene by ₱5.20 per liter. An industry source separately projected a similar downward trend, estimating gasoline could drop by up to ₱13.50 and diesel by ₱4.50 per liter.
Abad traced the decline largely to shifts in global market sentiment following the United States midterm elections. The prospect of increased opposition control in Congress has tempered expectations of unimpeded policy continuity, while growing optimism over a potential resolution to the US‑Iran conflict has eased fears of supply disruptions in key oil‑producing regions. These combined factors have pushed international crude prices downward, translating to lower costs for fuel imports.
Despite the encouraging outlook, Abad urged caution, noting that the downward trend may not hold unless backed by actual improvements in physical oil supply. Final adjustments will be announced by oil companies early next week, and actual pump prices may vary slightly among retailers and locations.
metrosundaily
