Motorists should brace for higher fuel costs starting May 5, as diesel and gasoline prices are expected to increase after a brief period of declines.
Industry sources estimate diesel will go up by P1 to P2 per liter, breaking a three-week streak of rollbacks. Gasoline is also projected to rise by P2 to P3 per liter, marking its second consecutive weekly increase.
The projections are based on trading activity at the Mean of Platts Singapore, a key benchmark for refined petroleum product pricing in Southeast Asia.
Fuel retailers are expected to announce their official price adjustments on Monday.