MANILA, Philippines — Diesel and gasoline prices are estimated to go down next week, amid hopes that recent talks between the US and Iran at the UN would ease the conflict, local industry sources said.
They said that diesel prices would drop between P7 and P7.50 per liter and between P0.50 and P1.00 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.
Sources noted, however, that the decline in prices may be short-lived as Iran said that it won't back down against US pressure and following an attack in Saudi Arabia.
This week, local oil companies raised diesel prices by up to P8.80 per liter, and gasoline by up to P4.80 per liter.
