MIXED FUEL PRICE CHANGES EXPECTED NEXT WEEK

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Fuel prices are expected to move in opposite directions next week, with gasoline likely to become more expensive while diesel and kerosene may see large price cuts.

The Department of Energy said gasoline could rise by around P1.60 to P1.70 per liter. Meanwhile, diesel may drop by about P9 per liter, and kerosene could decrease by around P12 per liter.

The possible gasoline hike is linked to supply concerns and strong demand. Diesel prices, however, are easing as global market fears begin to settle, partly due to optimism over peace talks involving the United States and Iran.

The final adjustments are not yet official and may still change after the remaining trading day. Oil companies are expected to announce the new prices on Monday, with the changes taking effect the next day.

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