Fuel prices to drop next week

Motorists could expect relief at the pump next week, as rising oil supply is set to push fuel prices down.

- GABRIELL CHRISTEL GALANG

Based on the four-day Mean of Platts Singapore (MOPS) and the foreign exchange average, gasoline may see a potential decline of P0.25 to P0.60 per liter, while diesel could see a P1.25 to P1.50 per liter rollback. Kerosene prices are also anticipated to drop by P1.20 per liter.

Next week’s projected drop in fuel prices is largely tied to increased output from oil-producing nations, particularly the Organization of the Petroleum Exporting Countries (OPEC+).