MANILA (December 6) – Oil prices are expected to increase again next week amid ongoing geopolitical tensions.
According to Jetti Petroleum president Leo Bellas, gasoline may rise by ₱1.10–₱1.30 per liter, while diesel may go up by ₱0.10–₱0.30 per liter, based on price movements as of Thursday.
Bellas said elevated premiums and freight costs continue to impact diesel prices despite a drop in weekly MOPS averages. He added that the middle distillate market has softened due to eased supply concerns linked to the Russia-Ukraine situation and expectations of higher exports from China.
Gasoline prices in Asia, however, remain supported by tight supply and strong regional demand, with lower export volumes from China and South Korea.
This week saw a ₱0.20 per-liter increase in gasoline and a ₱2.90 rollback in diesel.
