DOE sees another fuel price rollback next week

Metro Manila, Philippines - Motorists may see another round of price rollback in fuel prices next week, the Department of Energy said.

Kerosene prices may decrease by ₱1.30 per liter to ₱1.45/liter and diesel by ₱1/liter to ₱1.35/liter, according to the DOE forecast released on Friday, May 9.

The DOE said the per-liter price of gasoline may be reduced by P0.30 to P0.75.

Oil firms implemented a cut in fuel prices this week after two consecutive price hikes.

The DOE said possible factors on next week's price movement include concerns about a "possible supply glut" following the decision of global producers to increase oil production levels and the United States or global tariff uncertainty.

The uncertainty over the outcome of trade talks between the US and China might also affect fuel prices, the agency added.