Local oil executive said gasoline prices have gone up, while diesel prices are down next week based on the first 3 trading days in the world market.

Jetti Petroleum President Leo Bellas said the price of diesel and kerosene may even be lower in the last 2 trading days. The price of gasoline, meanwhile, may climb because of higher demand as the driving season starts in the Northern Hemisphere.

So far, fuel prices have moved by the following amounts:

Diesel – P5.20/L decrease
Gasoline – P2.00/L increase
Kerosene – P6.70/L decrease

According to Bellas, due to the higher gasoline demand, its risk premium costs are also higher than those of diesel.

This week, both diesel and gasoline prices rose by over P2/liter in the Philippines.