DOE: Asahan ang rollback sa diesel at gasolina sa unang linggo ng 2024 | BT

Name: DOE: Asahan ang rollback sa diesel at gasolina sa unang linggo ng 2024 | BT
Uploaded: 2023-12-29T06:27:33+00:00
Duration: 4 min 55 s
Channel: GMA Integrated News

GMA Integrated News

last year

Huling Biyernes ng 2023, ano kaya ang aasahan nating galaw sa presyo ng produktong petrolyo at LPG pagpasok ng Bagong Taon?

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00:00 Last Friday of 2023, what can we expect from the price of oil and LPG as the new year begins?

00:08 We are joined by DOE Oil Industry Management Bureau Director Rino Abad. Good morning and advance happy new year to you.

00:16 Good afternoon to our countrymen.

00:22 What is your forecast for the price of oil products in the first week of 2024?

00:28 We are expecting that there will be a chance of rollback in kerosene.

00:37 The estimate of the price will change subject to the last trading price today.

00:44 But there is a chance of rollback.

00:48 Red-red, more or less, it will reach P90 to P1.

00:54 Diesel, possibly, will rollback a bit.

01:01 It will not exceed P30.

01:04 The gasoline is still a long way to go.

01:08 We need to wait for the last trading price today so we can have an idea if there will be an increase or decrease.

01:19 Will the oil tankers avoid the Red Sea because of the price of oil products?

01:26 That's just temporary. We experienced that this week.

01:32 Almost two weeks ago, there was a situation that affected the increase this week.

01:40 But as I mentioned, we can have a rollback next week.

01:45 That's just temporary. There are reports that the shipping lane was reached subject to that problem.

01:55 We know that before that was solved.

02:01 We saw a guarantee of a solution for the shipping industry.

02:05 We don't expect that there will be a prolong unless there are new waves of attacks on the ships that pass through the area.

02:18 Director Abad, you mentioned earlier about the liquified petroleum gas or LPG.

02:23 What is your estimate on the price when the new year comes?

02:26 Well, seasonally, the price of LPG is high from September to March. Sometimes, it reaches April next year.

02:41 We are still expecting that there will be an increase, but we will maintain this level of price that is high.

02:54 Until March to April next year.

02:58 But of course, as we observed on the liquid petroleum products, there will be a rollback because of the reports that are coming out,

03:08 consistent with the OPEC oil market report, the global class report, that there is an oversupply.

03:16 We are expecting that in the first quarter of 2024.

03:19 In fact, it was confirmed because the OPEC class announced that they will produce 900,000 barrels in addition to the existing 1.3 million barrels that they removed from production way back May of this year.

03:39 So it is one of the reasons that there will be oversupply in crude oil and the price of LPG is increasing.

03:48 However, LPG is also from crude oil. So there is a possibility that we will have a rollback unless you implement the OPEC class of reducing 900,000 barrels by January next year.

04:09 We will have a very tight balance of supply and demand.

04:19 Sir thank you very much for your time that you gave us in the latest news.

DOE: Asahan ang rollback sa diesel at gasolina sa unang linggo ng 2024 | BT

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