Price cuts at the pump are likely next week as global oil benchmarks declined amid ample supply.
In an advisory on Friday, January 9, Jetti Petroleum president Leo Bellas said diesel prices could drop by 10 to 30 centavos per liter.
Meanwhile, gasoline might go down by 20 centavos or no change at all. This is based on recent Mean of Platts Singapore (MOPS) and foreign exchange averages.
Bellas said prices are softening due to rising availability of refined products and concerns over crude oil oversupply. This, even as geopolitical risks persist.
He warned, however, that escalating tensions overseas could still reverse the trend and trim or erase the projected price cuts. (Emmanuel John B. Abris © Philippine Daily Inquirer)
