Rare rollback for diesel, gasoline seen possible next week

MANILA, Philippines — The motoring public may see a rare dip in fuel prices next week, as diesel products could drop by as much as P3.50 a liter following the truce between the United States and Iran.

An energy industry source told Inquirer that diesel prices could fall by P2.50 to P3.50 per liter next week.

Gasoline, meanwhile, may remain unchanged or decrease by P1 a liter.

The possible rollback, however, could just be a dent from existing prices, which already ballooned to as high as P170 a liter for diesel.

READ: Middle East war: global economic fallout

The source based these initial estimates on the first three days’ average on Mean of Platts Singapore, a key pricing benchmark for refined petroleum products.

“However, modest rebounds are seen based on today’s projections,” he said.

READ: Oil prices plunge, stocks surge on US-Iran ceasefire

The projections could still change with two more remaining trading sessions.

Fuel retailers usually announce their price movements every Monday, with the implementation set for the following day. /dda