The Daily Tribune
Mixed fuel price shifts likely next week
Pump prices are expected to show mixed movements next week, with gasoline likely to see a rollback while diesel and kerosene may increase.
The Department of Energy (DOE) estimates a rollback of around P0.05 per liter for gasoline, an increase of about P0.50 per liter for diesel, and an increase of approximately P0.25 per liter for kerosene, excluding business costs and premiums.
Jetti Petroleum, Inc. President Leo Bellas estimates a diesel increase of P0.80 to P1.00 per liter and gasoline to range between a rollback of P0.10 and an increase of P0.10.
Global oil price movements are influenced by new U.S. sanctions on Iran, concerns over an OPEC+ output hike, and market caution ahead of the group's October 5 meeting.
Traders are cautious ahead of the OPEC+ meeting, with prices reacting sharply to headlines rather than fundamentals.
Asian diesel prices remain supported due to shifting regional flows to the West to meet demand from the US and Europe, exacerbated by autumn refinery maintenance, peak harvest season demand, and Russia's partial diesel export ban.
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Diesel prices are expected to rise by P0.30 to P0.50 per liter and kerosene by P0.40 per liter next week, while gasoline prices may be rolled back by P0.50 to P0.70 per liter.
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Fuel retailers will implement mixed price adjustments on September 30, with diesel and kerosene prices increasing for the sixth consecutive week, while gasoline prices will see a rollback.
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