Fuel prices seen to drop further next week

MANILA, Philippines — Diesel and gasoline prices are expected to further go down next week, as the ceasefire between the US and Iran is expected to hold, local oil industry sources said on Saturday. They said that from P5.50 to P6.50 per liter, diesel prices were now expected to further drop by P8.80 to P10.80 per liter. Gasoline is also expected to decline by P1.50 per liter from the initial P1 per liter. These estimates are based on the 5-day trading of Mean of Platts, Singapore, the pricing basis of refined goods in Southeast Asia. Local oil companies are expected to announce final adjustments on Monday. This week, based on certain adjustment bulletins by local oil companies, diesel prices went up by around P15-P19.80 per liter and gasoline by P4.90-P5.90 per liter.

Go to News Site