Inquirer
Diesel prices might go up by 40-60 centavos per liter
Motorists can expect mixed oil price adjustments next week, with diesel prices projected to increase and gasoline prices to decrease.
Jetti Petroleum president Leo Bellas announced that diesel prices may rise by P0.40 to P0.60 per liter, while gasoline might see a rollback of P0.30 to P0.50 per liter.
The increase in diesel prices is attributed to persistent supply tightness in Asia, stemming from reduced exports by Northeast Asian refiners undergoing maintenance and unplanned shutdowns, as well as limited Chinese outflows and ongoing disruptions in Russian supply.
Gasoline prices are expected to soften due to slower regional demand and a significant buildup in US inventories.
Bellas also pointed out that new US sanctions on Russian oil giants Lukoil and Rosneft, and renewed US efforts to end the war in Ukraine, could influence future price movements.
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Gasoline and diesel prices are set to increase by P1.20 per liter starting Tuesday, November 18, marking the seventh consecutive weekly hike for gasoline and the fourth for diesel.
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Filipino motorists are set to experience increased fuel prices starting Tuesday, November 18, marking the seventh consecutive week of hikes for gasoline and the fourth for diesel.
Read more →
Gasoline prices are expected to remain unchanged or decrease by P0.10 per liter, while diesel and kerosene may increase by P0.80 to P1 and P1.35 per liter, respectively.
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