Geline Salac

Mixed movement in oil prices before end of May - DOE

Motorists refuel at a gasoline station along Easte Avenue in Quezon City on February 22, 2022. Jeepney drivers and operators  blast the consecutive oil price hikes causing increase in prices of consumer goods and services.  Jonathan Cellona, ABS-CBN News

Article (news)

TRANSPORTATION- OIL PRICE HIKE

David Dizon

ABS-CBN News

<div><span class="fr-video fr-deletable fr-fvc fr-dvb fr-draggable" contenteditable="false" draggable="true"><iframe width="640" height="360" src="https://www.youtube.com/embed/PQmqX3yvGEA?&amp;wmode=opaque&amp;rel=0" frameBorder="0" allowfullscreen="" class="fr-draggable"></iframe></span><br/></div><p>The Department of Energy is forecasting mixed movement in oil prices next week, with only kerosene prices sure to have another price cut before the end of May.</p><p>DOE Oil Industry Management Bureau (OIMB) director Rodela Romero said gasoline prices may go down by 15 centavos per liter or increase by 30 centavos per liter.</p><p>Diesel may have no price adjustment or have a rollback of P0.40 per liter.</p><p>Kerosene prices may go down by P0.20-P0.40 per liter.</p><p>Positive progress in the US-Iran nuclear deal, a boost in Iran’s oil storage capacity and the cooling of a trade dispute between US and China are pulling down oil prices while OPEC’s forecast of increased oil demand is having the opposite effect.</p><p>Romero, meanwhile, said there will be a price freeze for kerosene and household liquefied petroleum gas in 11-kg cylinders in the province of Samar due to the declaration of state of emergency with the ongoing repair and retrofitting of San Juanico Bridge.</p><div><span class="fr-video fr-deletable fr-fvc fr-dvb fr-draggable" contenteditable="false" draggable="true"><iframe width="640" height="360" src="https://www.youtube.com/embed/HXLBozFKQCs?&amp;wmode=opaque&amp;rel=0" frameBorder="0" allowfullscreen="" class="fr-draggable"></iframe></span><br/></div><p>The Department of Trade and Industry said the 60-day price freeze covers basic necessities in the whole province of Samar from May 20, 2025 to July 19, 2025 unless lifted by the President.</p><div><iframe src="https://www.facebook.com/plugins/post.php?href=https%3A%2F%2Fwww.facebook.com%2FDTI.ConsumerCare%2Fposts%2Fpfbid0RbrKNiyndR3a5DhfZGq6kL67KAR9gU4buLgeVfGz961VETsdwEfvyUEjooBRtRL7l&amp;show_text=true&amp;width=500" width="500" height="718" style="border:none;overflow:hidden" scrolling="no" frameBorder="0" allowfullscreen=""></iframe></div>

<p>The Department of Energy is forecasting mixed movement in oil prices next week, with only kerosene prices sure to have another price cut before the end of May.</p>

The Department of Energy is forecasting mixed movement in oil prices next week, with only kerosene prices sure to have another price cut before the end of May.