Motorists could see a slight reprieve at the pump during Holy Week, but commuters and public transport passengers may face steeper costs as diesel prices are set to climb further, according to industry sources cited in a report by 24 Oras.
A rollback of P1 to P2 per liter is being projected for gasoline, driven by a $4.88 per barrel decline in the Mean of Platts Singapore — the benchmark used to set petroleum product prices in the Philippines. Not all sources agree on that outcome, however. A separate source from within the oil industry is projecting the opposite, warning of a price hike of up to P3 per liter for gasoline instead.
Diesel tells a clearer — and grimmer — story. Thursday night’s MOPS data showed the commodity’s average selling price rising by $14.15 per barrel, a movement that is feeding projections of significant increases in the coming days. One industry source pegged the expected hike at P5 to P8 per liter, while another placed the upper end even higher, at P11 per liter.
Because diesel powers the bulk of public utility vehicles, any sustained increase puts direct pressure on transport operators and, eventually, on fares paid by ordinary commuters.
