FURTHER VOLATILITY in oil prices and potential price adjustments could threaten the inflation downtrend and derail the Bangko Sentral ng Pilipinas’ (BSP) easing cycle, analysts said.
“If the latest fuel price volatility continues to depend on what is happening in Gaza and the rest of the Middle East, we might be looking at some potentially disruptive oil price adjustments,” GlobalSource Research Country Analyst Diwa C. Guinigundo said in a Viber message.
Oil prices shot up after Iran launched a missile attack on Israel in early October. Prices have since slid after Israel signaled it was not planning to attack Iranian nuclear or oil targets.
Pump prices on Tuesday jumped for a fourth straight week for gasoline, and a third straight week for diesel and kerosene as global crude oil prices continued to rise amid heightened tensions in the Middle East. Fuel retailers raised gasoline prices by P2.65 per liter, diesel by P2.70 per liter and kerosene by P2.60 per liter.
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