Manila, Dec. 12 -- A price slash of PHP0.10 to PHP0.30 per liter is forecast for diesel prices next week, but gasoline prices are projected to rise by up to PHP0.10.

Citing price movements and foreign exchange performance as of Thursday, Jetti Petroleum president Leo Bellas, in a statement Friday, said "product markets mirrored the softening trend in crude oil prices, as prospects for a Russia-Ukraine peace deal eased concerns over tight supplies."

"Asian price benchmarks have softened as supply expectations rise, with potential heavier outflows from China, and as refineries return from turnaround," he added.

This week, there has been no movement in diesel prices, but gasoline prices were hiked by PHP1.20 per liter.

A Department of En...