Movement seen in fuel prices
MANILA, Philippines—Oil industry players expect slight movements in gasoline and diesel prices this week, although diesel prices seem particularly volatile.
One said the price trend for this major fuel product seemed flat (no increase or decrease) but another predicted a slight rollback of under 30 centavos per liter.
Another source predicted “a slight increase in diesel price, at about 20 centavos per liter.”
As for gasoline, independent oil player PTT Philippines has a price guide ready. Gasoline may increase between 15 to 20 centavos per liter.
However, price adjustments—including that for gasoline—are expected to be firmed up at this week’s opening. Another source expressed tamer expectations for gasoline—an increase of about 10 centavos per liter.
Despite the mixed estimates, all sources cited volatile trends in the trading week that just ended. While US demand seemed weaker for distillates (heating fuel and diesel) as winter winds down, anticipation of the US jobs report towards the weekend propped up oil prices overall.
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