Consumers face mixed oil price movements next week: gasoline is expected to roll back by as much as P4.20 per liter while diesel is expected to increase by up to P0.40 per liter.

An industry source said gasoline is forecasted to roll back by P4 to P4.20 per liter and diesel to increase by P0.20 to P0.40 per liter, based on the first four days of Mean of Platts Singapore (MOPS) and the foreign exchange average.

“Diesel rose as low global inventories persisted but further increases are tempered by the prospect of additional supply from Russia and the release of diesel stocks from G7 nations, although doubts remain whether the US-Russia diesel deal will deliver meaningful additional supply,” the source said.