Department of Energy-Oil Industry Management Bureau said another round of over P1 per liter reduction in prices of petroleum products expected next week.

Assistant Director Rodela Romero said based on the four-day trading in MOPS (Mean of Platts Singapore) an estimated range of downward adjustments in fuel pump prices are as follows:

Gasoline – P1.40 to P1.70 per liter

Diesel – P0.90 to P1.20 per liter

Kerosene – P1.50 to P1.70 per liter

The Energy department attributed the anticipated rollback in fuel prices on the following global developments:

Build-up of commercial crude oil stockpiles of US

OPEC+ plans to increase their outputs by April

US trade tariffs on Canada, China, and Mexico that broaden trade conflicts

Fuel firms announce the official per liter price adjustments every Monday, to be implemented on the following day.

Last Tuesday, oil companies slashed the prices per liter of gasoline by P0.90, diesel by P0.80, and kerosene by P1.40.