MANILA, Philippines — Gasoline and diesel prices are expected to go down slightly next week amid oil oversupply and geopolitical tension, local oil industry sources said on Friday.
They said that gasoline prices could either have no change or decrease by about P0.20 per liter, while diesel prices are estimated to go down by around P0.10 to P0.30 per liter.
These estimates are based on the 4-day trading of Mean of Platts, Singapore, the pricing basis of refined goods in Southeast Asia.
This week, local oil companies reduced gasoline prices by P0.10 per liter, and increased diesel by just P0.20 per liter.
