A PHP 3.80 increase in gas and a rollback of PHP 2.40 for diesel might happen next week

After experiencing a fuel rollback this week, motorists with gasoline cars might have to brave another price hike next week.

According to estimates by PH Fuel Watch, today's trend could see an increase of PHP 3.80 per liter of gasoline. Should this happen next week, gasoline motorists who wish to avoid the price hike might want to gas up as early as possible. But does this mean diesel fuel will also experience a price uptick?

Gas could go up PHP 3.80 next week, diesel may rollback image

Surprisingly, diesel motorists can breathe a sigh of relief as another rollback is expected to happen. Based on current estimates place, diesel could go down PHP 2.40 per liter. With diesel prices receiving a PHP 3.10 cut this week, those with a diesel-powered vehicle can wait until Tuesday next week to fill up.

The seesaw oil price affair continues to affect the global market as the European Union (EU) is still aiming to agree on placing an embargo on Russian oil. If ever the EU passes the embargo, we might experience skyrocketing oil prices in the not-so-distant future.

With price estimates still subject to change, we'll be keeping a close eye on whether gasoline prices will go up while diesel prices might go down next Tuesday.