DOE sees mixed movement in oil prices next week

Domestic pump prices will likely have a mixed movement this coming week with gasoline going down by as much as P0.90 per liter, while diesel and kerosene will go up by P0.60 per liter to P0.90 per liter, respectively.

Romero said gasoline prices may rollback by P0.60 to P0.90 per liter while diesel may increase by P0.40 to P0.60 per liter and kerosene may go up by P0.75 to P0.90 per liter. Romero said world oil prices are also driven by seasonal demand uptick due to forthcoming summer season and announcement of the US on the release of millions of barrels of gasoline product from government reserves to lower prices at the pump.

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