Diesel prices seen to go up by P2 to P3 per liter, gasoline rollback P0.50 to P1 per liter —source

A price hike for diesel and a rollback in gasoline prices may be expected next week, an industry source said Saturday.

For the week of October 26, diesel prices may be increased by P2 to P3 per liter, while prices of gasoline may go down by P0.50 to P1 per liter, the source added.

The projections were based on this week's full Mean of Platts Singapore (MOPS) and foreign exchange averages.

Oil prices went sharply higher at the end of this week after concerns that the renewed US-Iran hostilities as well as the attacks threatening oil production in Saudi Arabia and alternative export routes may disrupt the delivery of energy supplies from the Middle East.

On Tuesday, October 20, motorists saw mixed movements in pump prices, with gasoline and kerosene pump prices down, and those of diesel up. —KG, GMA News