Metro Manila, Philippines — Fuel will get cheaper next week, a Department of Energy (DOE) official said Saturday, July 27.
Based on the four-day trading in the Mean of Platts Singapore, DOE estimated that gasoline may go down by ₱0.70 to ₱0.95 per liter.
Diesel will decline by ₱0.70 to ₱0.95, while kerosene by ₱0.80 to ₱0.90 per liter.
“The current trend leans bearish due to the oil market expectations of plentiful supplies and weak demand,” said DOE Oil Industry Management Bureau Assistant Director Rodela Romero.
“Likewise, the Gaza ceasefire negotiation threatens to erode the geopolitical risk premium of crude and petroleum products,” she said
“Fifteen days price freeze for kerosene and 11 kg & below LPG are being implemented upon declaration of the State of Calamity in a particular area,” Romero also said.
Metro Manila and some areas in Calabarzon are under a state of calamity in the aftermath of tropical depression Butchoy, typhoon Carina, and the southwest monsoon.
