Gasoline prices may roll back by P2 during Holy Week, industry source says

The country may experience some relief during the coming Holy Week, with a possible rollback of P1 to P2 for gasoline, an industry source said.

According to Maki Pulido's report on "24 Oras," the price of diesel will continue to go up, although at a lower rate.

The industry source said a rollback in the price per liter of gasoline was expected because its price in the Mean of Platts Singapore (MOPS) went down by $4.88 per barrel.

MOPS is the standard used in pricing petroleum products in the Philippines.

However, another source from an oil company said a price hike of up to P3 per liter is instead expected.

The price of diesel, which is widely used in public transportation, is certain to still go up, although in lower increments.

An industry source said diesel is expected to go up by P5 to P8 per liter in the coming week.

Another source said the increase may go as high as P11 per liter.

On Thursday night, the average selling price of diesel in the MOPS went up by $14.15 per barrel. –Jiselle Anne C. Casucian/NB, GMA Integrated News