Gasoline price hike, diesel rollback seen after Holy Week

Gasoline prices are expected to increase while diesel prices may go down after Holy Week, an oil industry source said Friday.

According to its fuel price forecast for the first week of April,  gasoline prices are expected to increase by P0.30 to P0.50 per liter.

Diesel prices, meanwhile, are expected to decrease by P0.55 to P0.75.

There is no Mean of Platts Singapore (MOPS) trading on Friday, according to the oil industry source. 

MOPS is the daily average of all trading transactions of diesel and gasoline as assessed and summarized by Standard and Poor’s Platts, a Singapore-based market wire service. The Philippines uses it as the benchmark for local fuel products.

On March 26, oil companies implemented an increase in gasoline, diesel, and kerosene prices by P2.20, P1.40 and P1.30 per liter, respectively. —Joahna Lei Casilao/KBK, GMA Integrated News