MANILA, Philippines — Gasoline and diesel prices are estimated to go up next week because of the escalation of geopolitical tensions around the world, local oil industry sources said on Friday.
They said that gasoline prices are expected to go upfrom P1 to P1.20 per liter, while diesel is estimated to spike between P1.80 and P2 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, local oil companies raised gasoline prices by P0.30 per liter, and diesel prices by P0.20 per liter.