Diesel rollback streak but gasoline may inch up

Fuel prices are expected to move mixed next week, with diesel likely to see a third consecutive rollback, while gasoline may remain steady or post a slight increase.

An industry source who requested anonymity said Friday that early estimates indicated diesel prices may drop by P8 to P10 per liter, based on the first four days of trading in the Mean of Platts Singapore and foreign exchange movements.

Gasoline prices, meanwhile, are projected to range from unchanged to a slight increase of up to P1 per liter.

“Renewed geopolitical tensions in the Middle East have caused the MOPS prices and premiums to rebound during the past two trading days, reducing the potential rollback on diesel next week, with gasoline reversing from a potential decrease to a possible increase,” the source said.

“Markets have remained highly event-driven, with shipping interruptions and resulting disruptions in supply flows triggering the volatility in prices.”

Still above P100

Department of Energy data showed that from 14 to 20 April, diesel prices in Metro Manila ranged from P105 to P136.70 per liter, with an average price of P123.40. If the rollback materializes, diesel prices could settle P95 to P128.70 per liter.

Gasoline prices during the same period ranged from P76 to P107.90 per liter, depending on the grade. Final adjustments will be determined at the close of the trading week.