Economy
Gasoline Prices Set to Surge Next Week; Diesel to See Minor Drop
Motorists in the Philippines are bracing for a significant gasoline price hike next week, projected at P2.90 to P3.20 per liter, due to escalating Middle East conflict concerns impacting oil supply. Diesel prices, however, are expected to see a slight decrease.
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- Gasoline Prices May Rise by Up to P3/Liter Next Week, Diesel Seen Rolling Back P0.60
Filipino motorists can expect a mixed movement in pump prices next week, with gasoline potentially increasing by up to P3 per liter and diesel seeing a rollback of P0.60. Geopolitical tensions in the Middle East are supporting crude oil prices, while improved fuel supply prospects from China and South Korea are moderating gains.