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Prices of petroleum products are expected to go down soon as world oil prices have dropped last month by an average of $2 per barrel, industrialist and consumer advocate Raul T. Concepcion said Tuesday.

“Overall, the good news is that oil prices may go down during December this year to March 2005 since demand for heating oil will be lower than earlier feared and because of an expected mild winter in the US and Europe as reflected in a one-day steep drop of Dubai crude by $2.65 amid panic selling by brokers,” Concepcion said.

In November, world crude prices declined month-on-month by $2.67 per barrel for Dubai crude, $2.28 per barrel for Means of Platts Singapore or MOPS gasoline and $1.70 per barrel for diesel.