Diesel prices up, gasoline down on third trading day in world market

MANILA — Mixed fuel price movements are expected next week, the last week of October.

Just like this week’s adjustments, diesel and kerosene prices are likely to go up while gasoline prices are likely to go down.

Based on the first 3 trading days in the Mean of Platts Singapore, oil prices may move by the following amounts:

Diesel – P2.70/L increase
Gasoline – P1.30/L decrease
Kerosene – P1.20/L increase

Jetti Petroleum President Leo Bellas said the main reason for the price spike remains the uncertainty brought about by renewed tension in the Middle East, as some ships were attacked again in the Strait of Hormuz.

He also noted that Houthi rebels targeted facilities in Saudi Arabia.