Philstar
Mixed pump adjustments expected next week
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.
These price adjustments are attributed to mixed movements in the global oil market, influenced by supply, demand, and geopolitical factors.
An oversupply indicated by OPEC+ and weak global economic indicators contribute to potential decreases or stability in gasoline prices.
Conversely, rising geopolitical risks, including US sanctions on Russian oil majors like Lukoil and Rosneft, have caused a modest rebound in oil prices.
The Department of Energy noted these dynamics are driving the anticipated mixed movements in pump prices.
Final price adjustments will be announced on Monday and will take effect the following day, November 26.
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