Diesel rollback of up to P2/liter, gasoline hike P2.20/liter seen next week
Motorists in the Philippines are facing mixed fuel price adjustments next week, with diesel prices expected to drop while gasoline prices rise. The fluctuations are driven by global supply concerns, including hurricane-related production shutdowns in the US and regional geopolitical tensions.
Why it matters
Energy price volatility directly impacts inflation and the cost of living for consumers in import-dependent economies.
<p>Motorists should expect mixed movements in fuel prices to be implemented in the coming week.</p><p>Citing estimates based on four-day Mean of Platts Singapore trading and foreign exchange averages, an oil industry source said the following are the expected price adjustments:</p><ul> <li>Diesel - P1.80 to P2.00 per liter (rollback)</li> <li>Gasoline - P2.00 to P2.20 per liter (increase)</li></ul><p>"While oil is relatively weaker this week due to reserve releases and recovering Middle Eastern flows, persistent security threats amid tanker attacks and further escalation in the region have heightened supply concerns," the industry source said.</p><p>"Furthermore, the shutting down of oil and gas production in the Gulf of Mexico due to an approaching hurricane also pushed prices as the potential curtailment of US refining capacity could exacerbate energy flows and supply," the source added.</p><p>Oil companies announce official price adjustments every Monday, to be implemented on the following day.</p><p>This week, effective October 6, fuel firms increased…
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