
Fuel prices are expected to fall for a second straight week, with rollbacks seen across all major petroleum products, the Department of Energy (DOE) said.
Based on four-day trading, DOE-Oil Industry Management Bureau Director Rodela Romero said in a text message on Friday that gasoline may go down by P0.30 to P0.75 per liter, diesel by P1.00 to P1.35, and kerosene by P1.30 to P1.45.
Romero cited “OPEC+’s decision to increase June oil production levels combined with US or global tariff uncertainty has raised concerns about a possible supply glut” as one of the reasons for the projected price cuts. She added that uncertainty over trade talks between the US and China is also weighing on global oil prices.
The rollback will take effect next Tuesday, a day after the midterm elections on May 12.
This week, fuel retailers slashed prices by P0.55 per liter for gasoline, P0.65 for diesel, and P0.90 for kerosene, which broke the two-week price hikes.