Fuel Price Watch: Big Diesel Rollback Seen, Gasoline Hike Looms Next Week
DOE estimates point to a major diesel rollback and kerosene price cut next week, while gasoline may increase by up to P1.70 per liter.
Motorists may see a mixed fuel price adjustment next week, with diesel and kerosene headed for major rollbacks while gasoline could get more expensive again.
Based on Department of Energy estimates cited by The Philippine Star, gasoline prices may rise by P1.60 to P1.70 per liter after four trading days in the international oil market. Diesel, however, could drop by around P9 per liter, while kerosene may fall by around P12 per liter.
DOE director Rino Abad said gasoline is facing upward pressure partly because of supply and demand, while diesel prices are returning closer to market-based levels as speculation eases. The movement comes as global markets watch developments tied to possible United States-Iran peace talks despite renewed tensions.
The final price adjustments are still subject to one remaining trading day and are expected to be announced on Monday before taking effect the following day. The estimates are based on the Mean of Platts Singapore, a key benchmark used for refined petroleum products in the Asia-Pacific region.
If the projected changes push through, gasoline would again become more expensive than diesel, a shift that matters for drivers, commuters, and delivery costs. DOE data cited in the report showed gasoline selling for as low as P73.21 per liter in Metro Manila, while diesel ranged from P79.62 to P102.16 per liter. Source: The Philippine Star
