Gas prices up next week, kerosene unsure

The Department of Energy-Oil Industry Management Bureau (DOE-OIMB) announced that gasoline and diesel prices are set to rise next week, while kerosene may either increase or decrease.

Assistant Director Rodela Romero cited potential factors for the price adjustments including US President Donald Trump's tariffs on trading partners, concerns over a global trade war affecting crude demand, and China's refinery maintenance season.

Analysts noted that stricter sanctions and secondary tariffs on Iran, Venezuela, and Russia, as well as cutting Kazakhstan's oil output, have supported prices but also raised supply concerns due to potential disruptions in trade flows.

Final decisions on pricing will be made after Friday's trading day, with official adjustments announced by oil companies every Monday for implementation the following day.

Jetti Petroleum emphasized that global oil production could face strain and a slight relief may occur temporarily as market worries about tariffs' negative impact on world economic growth and demand continue.