MANILA, Philippines — Relief may be on the horizon for Filipino motorists as diesel prices are now expected to post a deeper rollback next week, potentially reaching as much as P10.80 per liter.
Market watchers said the sharper price adjustment comes after global oil prices eased amid improved sentiment over possible diplomatic progress between the United States and Iran. The cooling of geopolitical tensions has helped temper crude oil trading, paving the way for lower local fuel prices.
Based on industry estimates released Friday, diesel may drop between P8.80 and P10.80 per liter—wider than earlier projections. Gasoline prices may also ease by around P1.50 per liter, although some forecasts indicate it may also remain steady depending on final market movements.
However, analysts warned that the expected relief could be short-lived. The oil market remains highly sensitive to developments in the Middle East, and any setback in peace efforts could quickly push prices upward again.
ia/xf
