MANILA, Philippines — Fuel prices are expected to go down next week following the announcement of a two-week ceasefire in the US-Israel and Iran conflict, local oil industry sources said on Friday.
Diesel and gasoline prices will decrease by around P5.50 to P6.50 per liter and P1 per liter respectively.
Reports on Thursday said that diesel would drop between P2.50 and P3.50 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, based on certain adjustment bulletins by local oil companies, diesel prices went up by around P15.00-P19.80 per liter, while gasoline prices increased by P4.90-P5.90 per liter.
