Pump prices are seen to have a mixed movement next week amid concerns about the global economy.
Industry sources said that based on the four-day trading period, both gasoline and diesel may have no price adjustment or a possible rollback of P0.20 per liter.
Sources said kerosene might have a minimal increase or even a rollback of P0.05 per liter.
“The price of oil swung wildly as mounting tensions in the Red Sea were overshadowed by concerns about the global economy,” Department of Energy director for the oil industry management bureau Rodela Romero said.
On Dec. 26, 2023, oil companies implemented an increase in the price of gasoline, diesel and kerosene by P 1.60 per liter, P1.70 per liter and P1.54 to P1.55 per liter, respectively.
These price adjustments resulted in a year-to-date net increase of P12.60 per liter for gasoline, P5.65 per liter for diesel and P1.24 per liter for kerosene.
Prevailing retail prices of petroleum productions in the National Capital Region for gasoline ranges from P53.20 to P77.30 per liter, diesel from P50.49 to P78.81 per liter and kerosene from P70.64 to P82.03 per liter.
