PUMP prices of fuel products are likely to edge next week. Diesel is expected to post the larger increase, according to Jetti Petroleum president Leo Bellas.
Bellas said diesel prices may rise by P0.30 to P0.50 per liter. Meanwhile, gasoline prices might rise up by P0.10 per liter if at all.
These are based on the four-day average of Mean of Platts Singapore prices and foreign exchange movements versus last week’s full-week average.
Bellas said oil prices have been supported by geopolitical risks. These include tougher US sanctions enforcement on Venezuela and intensified Ukrainian attacks on Russian oil infrastructure. These have raised concerns over potential supply disruptions.
On December 23, fuel prices decreased, easing costs just as Christmas travel peaked.
Pump prices were cut by P0.80 per liter for gasoline, P1.30 for diesel and P1.60 for kerosene. (Emmanuel John B. Abris © Philippine Daily Inquirer)
