Diesel, gasoline prices seen rising steeply as July ends

MANILA, July 25 ------ Oil prices may climb as July ends next week.

Based on the four days of trading on the world market, oil prices may jump by the following amounts:

- Diesel - P6/L

- Gasoline - P5.90/L

- Kerosene - P4.30/L

Independent oil company Jetti Petroelum also expects diesel prices to go by P6-P6.50/L, and gasoline by P5.50-P6/L. Jetti Petroleum said oil prices have soared because of fears of further disruption of oil supply, as the Strait of Hormuz remains closed.

Source: news.abs-cbn.com