Metro Manila, Philippines – Pump prices may reflect mixed adjustments next week over jitters on a widening conflict in the Middle East and supply disruptions, estimates of the Department of Energy (DOE) showed on Friday, Oct. 4.
The agency said gasoline prices may decline by up to P0.70, while diesel and kerosene costs may go up by P0.70 and P0.35, respectively.
The agency pointed to possible supply disruptions triggered by hurricane Helene in the US, and Israel’s potential attack on Iran’s oil infrastructure.
Meanwhile, the possible decline in gasoline price is due to the balance of weak global demand growth and a positive supply outlook, the DOE said.
Oil companies implemented less than a peso hike on fuel products on Tuesday, Oct. 1.
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