Philippine diesel prices may rise as gasoline prices ease
An industry source projects a diesel increase of ₱2 to ₱3 per litre and a gasoline reduction of ₱0.50 to ₱1 per litre for the week of October 26.
Motorists in the Philippines could face higher diesel costs but lower gasoline prices for the week of October 26, an industry source told GMA News on October 24. The projected adjustments are an increase of ₱2 to ₱3 per litre for diesel and a cut of ₱0.50 to ₱1 per litre for gasoline.
The source based the estimates on the full week's averages for foreign exchange and Mean of Platts Singapore (MOPS).
GMA News reported that oil prices rose sharply towards the week's end amid fears of disruption to Middle Eastern energy deliveries. Those concerns followed renewed US-Iran hostilities and attacks threatening Saudi Arabian oil production and alternative export routes.
The previous pump-price adjustment, on October 20, saw diesel become more expensive while gasoline and kerosene prices fell.
