Diesel price hike seen this week

AFP FILE PHOTO

MANILA, Philippines—Oil firms may adjust diesel prices this week as demand for distillates (heating oil and diesel) recovers.

A “slight” increase in diesel price may be in the order of 25 centavos per liter, give or take a few centavos, industry sources said.

There may not be any movement for gasoline, although price positions have yet to be finalized over the weekend, sources said.

The adjustments reflect stable demand for heating and automotive fuel amid the continuing cold winter in north Asian and western countries, according to market analysts.

Aside from fuel demand in response to the winter season in many countries, positive developments in the fuel-guzzling Chinese economy are also supporting prices, sources said.

Oil firms have not made announcements but since most fuel products sold locally are imported, the country does tend to follow price trends abroad.  Riza T. Olchondra

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