MANILA, Philippines – With oil prices continuing their decline in the world market, a second rollback locally is possible, emergy officials said Friday.
The Department of Energy monitored global prices sliding steadily from Monday to Thursday, according to Director Zenaida Monsada of the DOE Oil Industry Management Bureau.
Monitoring showed MOPS prices declined by as much as $1 to $2 per barrel as the market remained stable and results of elections in Europe were being awaited.
"We are expecting some rollback next week, though not as big as [what we had] this week," Monsada said.
Some industry sources estimate that the price of gasoline in the market has since declined by an equivalent of 56 centavos per liter since the rollback; and 33 centavos for diesel.
"Definitely next week we will not see any price increase. The rollback may be minimal or there may be products where there won’t be any price movement; but definitely these won’t rise," said Monsada.
source: interaksyon.com
