Motorists may expect significant fuel price rollbacks next week, with gasoline prices projected to drop by as much as ₱14 per liter, the Department of Energy (DOE) said Friday. DOE Oil Industry Management Bureau Director Rino Abad said preliminary estimates based on the first four days of trading showed diesel prices could decrease by ₱5 per liter, while kerosene prices may fall by ₱5.20 per liter.
Abad attributed the projected reductions to developments following the US midterm elections and hopes of a possible end to the US-Iran conflict, which eased concerns over potential disruptions to global oil supplies. However, he cautioned that lower oil prices may not be sustained without an actual recovery in physical oil supply.
