Philippines: Gasoline Prices Roll Back Significantly, Diesel Rises
Gasoline prices in the Philippines are set for a substantial rollback starting October 20, while diesel prices are expected to increase. Improved supply in Asian markets contributed to the gasoline price drop, but diesel is affected by global supply shortages and higher shipping costs.
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- Gasoline prices seen rolling back by up to P5.50/liter next week
Motorists in the Philippines can expect a significant rollback in gasoline prices next week, with estimates pointing to a reduction of P5.30 to P5.50 per liter. Diesel prices, however, are projected to remain stable or see a slight increase. This trend is attributed to softening demand and improved product availability in Asia.