MANILA, Philippines — Local fuel prices may ease slightly next week as Mean of Platts Singapore (MOPS) prices fell following a temporary ceasefire in the Middle East, an industry source said.
Based on the first three days of trading, including premium grades, diesel is expected to drop by P2.50 to P3.50 per liter, while gasoline could decline up to P1 per liter.
"MOPS prices eased significantly yesterday due to the ceasefire deal, which may translate to modest relief for pump prices next week," the source said.
However, the source warned that prices could rebound if tensions escalate after recent Israeli airstrikes in Lebanon.
"Any renewed conflict could derail the peace talks and the fragile ceasefire, pushing fuel prices higher again," the source added.
