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Motorists may see mixed movements in pump prices next week, with diesel expected to post a rollback while gasoline could see an increase, an industry source said.
The projection was based on Mean of Platts Singapore data and recent foreign exchange trends over the past several days.
The source said diesel prices could move down by about Php 6.00 to Php 8.00 per liter, while gasoline may rise by Php 1.00 to Php 4.00 per liter.
Global oil prices also fell sharply, with reports citing a more than 5 percent drop driven by optimism over efforts to end the conflict in the Middle East.
Brent crude was reported to have declined to about $96 per barrel, while West Texas Intermediate also posted losses during the same trading period.
Local oil companies typically adjust pump prices weekly, with announcements made every Monday and implemented the following day.
In the previous adjustment on May 5, fuel firms implemented increases for gasoline and diesel, while kerosene prices were rolled back.
The latest movements brought year-to-date net increases to fuel prices across gasoline, diesel, and kerosene, reflecting continued volatility in global oil markets.
