THE Department of Energy (DOE) is forecasting a cut in petroleum prices based on four days of trading on the Mean of Platts Singapore.
Rodela Romero, Director III of the DOE-Oil Industry Management Bureau, said the price cuts are as follows: gasoline – P0.50-P0.80/liter, diesel – P0.20 to P0.50/liter and kerosene – P0.20 to P0.45 per liter.
“Base sa four-day trading, magkakaroon ng rollback sa lahat ng produktong petrolyo this coming Tuesday (March 12),” she said in a TeleRadyo Serbisyo interview.
This will be the third consecutive week of price cuts for diesel and second consecutive week of price cuts for gasoline.
Fluctuating oil demand from China and the US caused the cut in pump prices, Rodela said. (ABS-CBN News)
