MANILA, Philippines — Diesel and gasoline prices are expected to soar this week again due to the war in the Middle East, a source in the energy industry said.
The source said that based on the 5-day trading of Mean of Platts, Singapore, combined with other costs such as freight, diesel prices could spike by as much as P23 per liter, while gasoline prices could go up as much as P17 per liter.
The Mean of Platts, Singapore, is the pricing basis of refined goods in Southeast Asia.
Last week, diesel prices jumped by P17.50 to P24.25 per liter, while gasoline prices increased by P7 to P13 per liter as local oil companies implemented price adjustments and staggered the increases for the week.
