Pump prices of petroleum products are expected to continue their uptrend next week, with diesel seen increasing for nine weeks straight.
Leo Bellas, president of Jetti Petroleum, said yesterday that based on initial market indications, the per-liter price of diesel might go up anew by 40 centavos to 60 centavos.
Gasoline prices might remain unchanged or just rise by 10 centavos a liter.
Bellas said the possible higher pump prices next week are still heavily influenced by geopolitical tensions.
“Concerns over military activities in the region have increased the likelihood of US strikes on Iran and decreased the prospect that the conflict will be resolved through diplomatic means,” he said in an advisory.
“While this week’s gasoline MOPS [Mean of Platts Singapore] prices have actually softened due to healthy regional inventories and supply, rising freight and premium due to geopolitical risks have offset the prospect of a potential price rollback,” Bellas added. (Lisbet K. Esmael © Philippine Daily Inquirer)
