MANILA – Pump prices of gasoline are expected to hike while diesel’s will see a minimal price-per-liter reduction in the coming week, independent oil player Jetti Petroleum Inc. said over the weekend.
In fuel price forecast, Jetti said gasoline price is expected to increase by P0.84 per liter.
Meanwhile, the price of diesel may rollback by P0.06 per liter.
The estimated price adjustment in the coming week reflects the movement in Mean of Platts Singapore (MOPS) and foreign exchange trading from March 4 to 7, according to Jetti.
The Philippines is using MOPS as the benchmark for local fuel products. MOPS is the daily average of all trading transactions of diesel and gasoline as assessed and summarized by Standard and Poor’s Platts, a Singapore-based market wire service.
Local oil companies usually implement fuel price adjustments every Tuesday of the week.
Latest data from the Department of Energy show diesel prices range from P41.40 to P46.13 per liter, while gasoline prices range from P48.99 to P57.71 per liter. (GMA News)
