MANILA, Philippines — Diesel prices are expected to go down, while gasoline prices are estimated to go up slightly next week influenced by global developments, industry sources said on Friday. They said that diesel prices would go down by around P0.60 to 0.80 per liter, while gasoline will either stay the same or go up slightly by P0.20 per liter. These estimates are based on the 4-day trading of Mean of Platts, Singapore, the pricing basis of refined goods in Southeast Asia. Sources said the global developments included oversupply from the Oil Petroleum Exporting Countries (OPEC), and the US; the International Energy Agency's reduction of its global oil demand forecast due to concerns about a market surplus and oil traders seeing prices fall with geopolitical ‘risk premium’ dissipating in the Middle East. They added however that prices could still remain volatile due to the possibility that India would stop Russian oil imports which, in turn, could increase demand for supplies from other sources; the decreasing availability of fuel products and crude oil from Russia due to persistent Ukrainian drone strikes on Russian refineries and the sanctions of the British government that are set to be imposed on Russia’s biggest energy companies. They also cited that geopolitical tensions between Russia, the US and Ukraine could bring further uncertainty over global energy supplies. This week, local oil companies implemented a P0.30 per liter increase on gasoline but did not adjust diesel prices.