Consumers filling up their vehicles with diesel products will get to be lucky next week as the price of this commodity will see between P0.40 to P0.70 per liter rollback, based on the calculation of the oil companies. For RON92 gasoline products, estimates portend a very slight reduction of P0.05 to P0.10 per liter to no price change, while for RON95 gasoline  is anticipated to increase by P0.10 to P0.30 per liter. The difference in the price adjustments in gasoline products is largely because a higher octane rating in petroleum products would infer more forceful ability of the oil to fight auto ignition. Hence, RON95 gasoline will be harder to burn compared with RON92 gasoline. For kerosene products, industry players indicated marginal price increase of P0.05 to P0.15 per liter. if not steady prices. Oil companies will be adjusting their prices effective Tuesday, April 18, based on the swing of prices based on the Mean of Platts Singapore (MOPS) index. Prior to this round of cost movements, a monitoring report of the Department of Energy (DOE) has shown that adjustments since the start of the year resulted in a net increase of P8.65 per liter for gasoline products, while diesel had aggregate reduction of P1.95 per liter, and kerosene declined by P3.45 per liter. According to industry experts, global oil prices softened following the pronouncement of the Organization of the Petroleum Exporting Countries (OPEC) on lower demand forecast for the second half of 2023. That declaration from the global producers tempered prices to the level of $84 per barrel most trading days last week, a drop from $87 per barrel in the prior week when OPEC and its ally-producers announced plan to trim production by 1.16 million barrels per day starting May. Nevertheless, spot prices at end-week trading on Friday, April 14, climbed back to the $85 per barrel scale for international benchmark Brent crude due to the warning hurled by Paris-based think tank International Energy Agency (IEA) of potential supply deficit by the latter part of this year. IEA Executive Director Fatih Birol stated that if the planned production cut of the OPEC+ countries will be concretized through the end of this year, there will be high probability for prices tracking new wave of uptrends in the weeks and months ahead because of potential supply shortfalls that market would be suffering from, that in turn could strain global economic growths post-pandemic.