Diesel hike of up to P4/liter seen July 14

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INQUIRER FILE PHOTO / GRIG C. MONTEGRANDE

Motorists should brace for another increase in diesel prices next week, with pump prices expected to rise by as much as P4 per liter, amid tightening global supply and renewed geopolitical tensions in the Middle East.

Industry estimates showed diesel prices could increase by P2 to P4 per liter on July 14, based on the first four trading days of the Mean of Platts Singapore and foreign exchange movements from July 6 to July 9.

Gasoline prices, meanwhile, are expected to remain largely stable, with adjustments ranging from a P1-per-liter rollback or increase.