Diesel prices go down on 4th day of trading in world market

MANILA — Diesel prices fell on the fourth day of trading in the world market.

Meanwhile, gasoline prices are still rising.

Based on the first four days of trading, oil prices may move by the following amounts next week:

Diesel – P0.62/L decrease
Gasoline – P2.90/L increase
Kerosene – P1/L decrease

Jetti Petroleum president Leo Bellas said diesel prices may be going down because of ongoing diplomatic talks between the United States and Iran.

Diesel supply is also increasing as countries like South Korea, China, and Russia eased restrictions on fuel exports.

The peso also strengthened on Thursday as it went back up to the 63-to-the-dollar level after closing at a record low of P64.17 versus the greenback on Tuesday.