THE new year opens with another possible shift in pump prices, as diesel is projected to increase in the coming week amid continued concerns in the global oil market.

Industry estimates point to a potential hike of P0.20 to P0.40 per liter for diesel, according to Jetti Petroleum president Leo Bellas in a Philstar report.

Gasoline prices, meanwhile, may either increase or decline by around P0.10 per liter.

Bellas said the outlook follows a week of subdued activity in the global fuel market. Benchmark prices for diesel and gasoline in the Mean of Platts Singapore (MOPS) posted slight declines after regional refinery output recovered.

Despite this, Bellas noted that elevated freight rates and premium costs continue to support higher price levels, as geopolitical developments raise concerns over possible disruptions to oil supply chains.

For kerosene, the Department of Energy is projecting a price rollback of about P0.20 per liter next week. However, the estimate does not yet factor in oil companies’ operating expenses and other pricing premiums.

Oil firms typically announce weekly fuel price adjustments on Mondays, with changes taking effect the following day.

Last week, diesel and kerosene prices were increased, while gasoline prices remained unchanged.(MyTVCebu)

• Tags
• #Diesel
• #gasoline
• #kerosene
• #fuel prices
• #P0.20
• #P0.40
• #P0.10
• #Jetti Petroleum
• #Leo Bellas
• #Philstar
• #global oil market
• #Mean of Platts Singapore
• #MOPS
• #Department of Energy
• #refinery
• #freight rates
• #geopolitical developments
• #oil supply chains