MANILA, Philippines — Gasoline and diesel prices are expected to increase again next week over market reactions to tensions in the Middle East and rise in oil demand from the US and Europe because of the winter season, local oil industry sources said on Friday.
They said that diesel prices would go up from around P1.20 to P1.40 per liter and gasoline from about P0.30 to P0.50 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.
This week, diesel prices jumped by P2 per liter and gasoline by P1 per liter.
