METRO MANILA, Philippines — Motorists may see mixed adjustments in fuel prices next week as global oil market developments continue to influence local pump rates, industry sources said Friday.
According to initial projections, gasoline prices may decrease by P0.10 to P0.30 per liter, while diesel prices are expected to rise by P0.40 to P0.60 per liter.
These estimates are based on the four-day trading average of the Mean of Platts Singapore (MOPS), which serves as the regional benchmark for petroleum products.
The anticipated price changes are attributed to several global factors, including:
Potential sanctions on Russia,
A trade agreement between the United States and Japan, and
Rising fuel demand following a significant drop in U.S. crude oil and gasoline inventories.
Earlier this week, local oil firms raised gasoline prices by P0.40 per liter and diesel by P1.10 per liter, continuing a trend of fluctuating fuel costs tied to international market activity.
