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DOE sees pump prices cut by end-July
Transcript
00:00Motorists can now heave a sigh of relief as rollback in fuel prices is expected at the
00:05end of July.
00:06According to oil industry sources from PTV, gasoline prices may decrease by 1 peso and
00:123 centavos per liter, diesel by 96 centavos per liter, and kerosene by 94 centavos per
00:18liter.
00:19The Department of Energy, or DOE, predicts a bearish oil market due to expected high
00:24supplies and low demand.
00:26A 15-day price freeze for kerosene and small liquefied petroleum gas is being imposed upon
00:33state of calamity declaration.
00:35Meanwhile, oil retailers in typhoon-affected areas are ordered to assess fuel quality in
00:41underground tanks for possible contamination.
00:45If contamination is detected, sales must stop until the issue is resolved and the fuel replaced.
00:51The DOE emphasizes adherence to national standards and fair trade practices, with ongoing monitoring
00:58by the Oil Industry Management Bureau and field offices.

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