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NewsTranscript
00:00Good news for our motorists.
00:02Expect a discount on the price of the oil products that will be delivered to you
00:07along with the new year's greetings.
00:11According to Radio Pilipinas, Oil Industry Management Bureau Director Rodela Romero
00:18based on the three-day monitoring of the agency,
00:21it is possible to have a discount of 30 to 65 cents on each liter of gasoline
00:28while the rollback on diesel is expected to be 30 to 55 cents per liter
00:34and 80 to 90 cents for each liter of kerosene or gas.
00:42The reason for the estimated adjustment or rollback for next week
00:47is still the supply and demand outlook.
00:51The IEA or the International Energy Agency
00:55is expecting that the oil market will be oversupplied by 2025.
01:01Even though OPEC delayed their increase in production.
01:09Despite the fact that OPEC delayed, the supply in the market is still good.
01:16Related to demand, the demand is weak.
01:22The demand is weak.
01:24I also saw in the news that the IEA's demand is getting better.