Diesel prices to increase by P0.20-P0.40 per liter next week

Filipinos can expect another increase in diesel prices next week, with potential hikes ranging from P0.20 to P0.40 per liter, according to Jetti Petroleum president Leo Bellas.

While regional refinery output has recovered, driving down Mean of Platts Singapore prices for diesel and gasoline this week, persistent geopolitical risks are a major concern for global oil supplies.

These geopolitical developments could lead to supply disruptions, keeping freight and premium components of oil prices elevated.

Meanwhile, a rollback of approximately P0.20 per liter is anticipated for kerosene, though this estimate does not yet account for oil firms' operational costs and premiums.

Oil companies are set to announce their final price adjustments on Monday, with changes taking effect the following day, after diesel and kerosene prices increased last week while gasoline remained unchanged.