MANILA, Philippines — Fuel prices are expected to soar next week due to the ongloing conflict between Israel and Iran, local oil industry sources said on Friday.
They said that gasoline prices will increase by around P2.50 to P3.00 per liter, diesel between P4.30 and P4.80 per liter and kerosene between P4.25 and P4.40 per liter.
These estimates are based on the 4-day trading of Mean of Platts (MOPS), Singapore, the pricing basis of refined goods in Southeast Asia.
Sources said the escalation of the conflict between Israel and Iran could disrupt oil shipments.
