There is a temporary agreement between the US and China to suspend tariffs for 90 days. This development has boosted market confidence, as it suggests the continued flow of goods without the additional costs imposed by US tariffs.
As a result, the oil market is expected to shift towards a price hike next week, following two consecutive weeks of rollbacks. The anticipated increase will affect diesel, gasoline, and kerosene, with the following estimated price adjustments:
- Diesel: ₱1.60 – ₱1.80 per liter
- Gasoline: ₱1.10 – ₱1.30 per liter
- Kerosene: ₱1.10 – ₱1.30 per liter
These estimates will be finalized by oil companies on Monday, and the new prices will take effect the following day, Tuesday.
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