MOTORISTS may unwrap an early Christmas gift next week as diesel prices head for a sharp rollback, though gasoline costs are expected to stay mostly unchanged.

In an Inquirer.net report, Jetti Petroleum president Leo Bellas noted that diesel is set for a substantial drop while gasoline rates are likely to remain flat.

Bellas said preliminary estimates based on the first four trading days of Mean of Platts Singapore (MOPS) and average foreign exchange movements point to a P3 to P3.20 per liter decrease in diesel.

Gasoline, meanwhile, shows little movement. He said pump prices could range from “no change to a minimal P0.10-per-liter increase” for the week beginning Dec. 1.

He attributed the pronounced diesel decline to market correction as global crude prices softened, supported by renewed optimism surrounding a US-brokered ceasefire push in Ukraine.

While Asian gasoline benchmarks also posted slight declines, Bellas noted that “premium and freight costs remain elevated.”

Oil companies are expected to announce official price adjustments early next week.(MyTVCebu)

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