Mixed fuel price adjustments seen next week

National

DIESEL users will get a breather next week while extra budget is needed for those using gasoline.

Prices of diesel may decrease while gasoline and kerosene are expected to rise next week in an anticipated adjustments reflecting ongoing volatility in global oil trading, the Department of Energy – Oil Industry Management Bureau (DOE-OIMB) said.

DOE-OIMB director Rino Abad said international oil prices have been moving sideways over the past several trading days, as markets react to shifting developments tied to tensions in the Middle East.

He noted that uncertainty in global sentiment has made price direction difficult to pin down.

“Hindi mo ma-predict ‘yung galaw nila. Pati ‘yung oil market nalilito, kaya hindi sila makadiretso ng increase, hindi rin sila makadiretso ng decrease. Depende sa mga pronouncement, kasi pabago-bago rin,” he said in an interview on GMA Super Radyo DZBB.

The agency said the official pump price adjustments will be announced on Monday, June 15, and will take effect on Tuesday, June 16.

This week, oil companies implemented higher prices for gasoline, diesel, and kerosene, reversing the rollbacks seen in the previous week.

Global crude markets have also been influenced by geopolitical tensions, including exchanges of attacks between the United States and Iran, further adding pressure to already volatile trading conditions.

US President Donald Trump has also warned of additional strikes if a peace agreement is not reached, contributing to market uncertainty.(MyTVCebu)