DOE-OIMB: Gas up to P0.40 higher, diesel mixed changes, kerosene down P0.10

The Department of Energy - Oil Industry Management Bureau (DOE-OIMB) announced possible mixed changes in petroleum product prices next week.

Gasoline prices could increase by up to P0.40, while diesel may see a rollback of P0.20 to an increase of P0.30 and kerosene might decrease by up to P0.10.

The potential US sanctions on Russia and OPEC+ production hikes are influencing these price adjustments.

Rollbacks in prices are also due to the OPEC+ decision to boost July production by 411,000 barrels per day.

Economic factors such as an economic slowdown in Asia and shifting energy priorities in countries like India contribute to the potential decrease in petroleum product prices.