Diesel prices are expected to rise further next week amid geopolitical risks threatening global oil supplies. Jetti Petroleum president Leo Bellas indicated a potential hike of P0.20 to P0.40 per liter for diesel, while gasoline could adjust by P0.10 per liter up or down.
In Manila, Philippines, Jetti Petroleum president Leo Bellas indicated a potential diesel price hike of P0.20 to P0.40 per liter next week. This comes as geopolitical developments raise fears of disruptions to global oil supplies. Gasoline prices, meanwhile, could shift by P0.10 per liter in either direction.
Although the Mean of Platts Singapore benchmarks for diesel and gasoline dipped this week due to recovering regional refinery output, freight and premium costs stayed elevated amid these concerns. For kerosene, the Department of Energy anticipates a rollback of about P0.20 per liter, excluding oil firms' operating expenses and other premiums.
Price changes for the coming week will be announced on Monday and take effect Tuesday. Last week, diesel and kerosene prices increased, while gasoline remained steady.
This adjustment reflects ongoing volatility in oil prices influenced by international factors, potentially impacting consumers and businesses in the Philippines.
