MANILA, Philippines — Another round of fuel price rollbacks of up to P5 per liter will likely happen next week, giving more relief to motorists at the pump.
Diesel could be cut by P4 to P5 per liter. This is based on estimates from Jetti Petroleum president Leo Bellas.
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Gasoline may also drop by P3 to P4 per liter.
The forecast is based on the first four days of trading at the Mean of Platts Singapore (MOPS) and foreign exchange movements. MOPS is the basis for the pricing of refined petroleum products in Southeast Asia.
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The figures, however, did not factor in ocean freight and insurance costs.
“Diplomatic headlines continue to push oil prices lower this week despite lingering supply risks,” he said.
“However, growing supply disruption worries as attacks on Saudi energy infrastructure and shipping through the Strait of Hormuz have escalated, causing prices to rebound recently,” Bellas added.