MANILA, Philippines — Diesel and gasoline prices are estimated to increase next week due to the uncertainty in the Middle East despite a recent peace deal between US and Iran, local oil industry sources said on Friday.
They said that diesel prices could increase by as much as P1.20 per liter, while gasoline by as much as P1.50 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.
Diesel and gasoline prices were reduced by P9.04 per liter and P3.90 per liter respectively this week.
