The rally on oil prices will be sustained at domestic petroleum pumps next week, primarily for diesel and kerosene products while the adjustment for gasoline prices will be relatively lean, according to the oil firms. READ:
The rally on oil prices will be sustained at domestic petroleum pumps next week, primarily for diesel and kerosene products while the adjustment for gasoline prices will be relatively lean, according to the oil firms.
The industry players will enforce the new round of price hikes on Tuesday, June 21. This will be referenced on the swing of prices based on the Mean of Platts Singapore plus the impact of the falling value of the Philippine currency versus the US dollar. At this stage, one key factor being monitored by the oil firms — because of the price pressure it can inflict toward oil products – is the foreign exchange rate, as the US dollar already closed at P53.75 last Friday.