Diesel prices set for sixth straight hike; rollback for gasoline

National

FOR the sixth week in a row, diesel costs are expected to rise — but gasoline users could see their first break after more than a month of price hikes.

In an advisory on Friday, Jetti Petroleum’s Leo Bellas said diesel prices are projected to climb by 30 to 50 centavos per liter, extending its streak of weekly increases.

Gasoline, meanwhile, is seen to drop by 50 to 70 centavos per liter, which would mark the first rollback after six consecutive weeks of upward adjustments.

In an Inquirer report, Bellas said external factors remain a key driver of market trends. “While this week’s first 4 days MOPS (Mean of Platts Singapore) price average on diesel compared to last week still indicated a minimal decrease, the depreciation of the Philippine peso this week against the US dollar resulted in a potential price hike, and reduced possible rollback on gasoline,” he explained.

He added that worries over supply disruptions linked to geopolitical tensions continue to influence global oil prices.

Fuel companies typically announce price adjustments every Monday, with implementation the following day.(MyTVCebu)