Diesel rollback may hit P6.50/liter next week

MANILA, Philippines – A bigger diesel rollback of up to P6.50 a liter is seen next week, amid the two-week ceasefire between the United States and Iran. 

Based on the first four trading days this week, an industry source said that diesel prices could drop by P5.50 to P6.50 a liter. 

This is higher than the earlier estimate of P2.50 to P3.50 per liter for diesel. 

READ: Rare rollback for diesel, gasoline seen possible next week

Gasoline prices, meanwhile, may stay the same or dip by just P1 a liter. 

Projections could still change, however, with one more trading session left this week. 

Industry players earlier said any easing in prices could be temporary amid jitters over the truce.

According to foreign reports, US Vice President JD Vance described the agreement as “fragile.” 

“If the Iranians don’t do the exact same thing, they’re going to find out that the president of the United States is not one to mess around. He’s impatient. He’s impatient to make progress,” Vance reportedly said in Hungary.

Since the war broke out last Feb. 28, local prices of diesel have already soared by as much as P100 per liter.