Diesel, gasoline prices up on third day of global trading

MANILA, May 16 ------ Fuel prices have increased on the third day of trading on the global market, making local price hikes even more likely next week. This comes after US President Donald Trump's declaration that the peace talks with Iran are on life support.

Oil prices have moved by the following amounts in the first three days:

Diesel - P1.90/L increase

Gasoline - P0.75/L increase

Kerosene - P0.20/L decrease

But Jetti Petroleum President Leo Bellas said there are still 2 trading days so it is not yet certain that diesel and gasoline prices will climb next week. The market, he said, is watching the outcome of the meeting between US President Trump and Chinese President Xi Jinping in Beijing.

Source: news.abs-cbn.com