MANILA, Philippines — Fuel prices are expected to increase next week, with diesel seen rising by P1.50 to P2 per liter and gasoline by P2.50 to P3 per liter, amid ongoing geopolitical tensions and a weaker Philippine peso against the US dollar, according to local oil industry sources.
The estimates were based on early Mean of Platts Singapore (MOPS) trading and foreign exchange movements, which showed continued upward pressure on global oil costs.
Local oil industry sources said the expected adjustments reflected stronger global crude prices
Final pump price movements will still depend on full-week trading results and the official announcements of oil companies.
