MANILA, Nov. 21 -- Oil prices are expected to increase as high as PHP1 per liter next week as upside risks remain partly due to supply disruptions, according to an industry player.

Based on the price movements as of Thursday and the performance of the foreign exchange, the outlook for next week points to about a PHP0.80 to PHP1 rise in diesel prices and up to PHP0.10 rise in gasoline prices.

Jetti Petroleum president Leo Bellas, in a statement, said "middle distillate prices (diesel, jet, kerosene) remained strong on firm fundamentals as concerns over supply tightness continue to persist due to reduced outflows from Northeast Asia amid refinery maintenance and unplanned outages, and persistently limited exports from China."

He said Rus...