-- The Philippines' diesel and kerosene prices are set to fall for a third consecutive week, starting Tuesday, Business World reported the same day.
Diesel is expected to drop by at least 12.94 Philippine pesos per liter while kerosene is projected to decline by at least 15.71 pesos per liter, the report said, citing the country's energy department.
However, gasoline may rise by up to 0.53 pesos per liter, the report added.
The adjustments reflect actual market movements from the previous week, and fuel retailers are required to comply or face sanctions, Philippine Energy Secretary Sharon S. Garin reportedly said.
The country continues to depend heavily on imports but is diversifying supply sources, including temporary Russian crude purchases and state-led diesel procurement, the news outlet reported.
Fuel inventory stood at 54 days as of April 24, supported by steady replenishment despite daily consumption of about 34 million liters, the report said.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)