Philstar
Fuel price rollback seen next week
Motorists can anticipate a rollback in fuel prices next week, with estimated price adjustments including a rollback of approximately P0.30 per liter for gasoline, P1.10 for diesel, and P0.65 for kerosene.
These estimates were based on the four-day trading in the Mean of Platts Singapore, a pricing benchmark used for refined petroleum products.
The expected price decrease is attributed to several factors influencing the global oil market, including oversupply from major oil-producing nations like OPEC, Russia, and the US.
Further contributing to the anticipated rollback are the International Energy Agency's (IEA) lowered global oil demand forecast due to concerns about a market surplus, and oil traders observing a dissipation of geopolitical 'risk premium'.
However, Jetti Petroleum anticipates gasoline prices to either remain unchanged or rise by P0.20 per liter.
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