Big-time rollback in pump prices expected next week

Transcript

00:00 A rollback in the prices of petroleum products is expected next week.

00:04 According to the Energy Department's estimate, a price drop of 1 peso and 49 centavos per liter is expected for diesel,

00:11 while 1 peso and 46 centavos for kerosene and 93 centavos for gasoline will be slashed, respectively.

00:18 This is based only on four days of trading, so the rollback price may still change.

00:23 According to the DOE, the slide in oil prices is due to continuing concerns on declining demand,

00:29 high interest rates and increased production in the United States.