MANILA, Philippines - Gasoline, diesel prices are expected to increase for the third consecutive week, mostly due to the escalation of attacks between Russia and Ukraine, local oil industry sources said on Friday.
They said that gasoline prices would go up by P1 to P1.20 per liter and diesel by P1.30 to P1.50 per liter.
These estimates are based on the 4-day trading of Mean of Platts, Singapore, the pricing basis of refined goods in Southeast Asia.
Market reactions to recent global oil-related developments, specifically the damage to Russian oil processing facilities by Ukrainian attacks, US imposition of new sanctions on Iran’s oil revenue stream and Saudi Aramco and the halt to exports to India’s refinery by Iraq’s state oil marketer SOMO were cited as the reasons for the new round of increases.
Gasoline, diesel prices to increase by P1 next week
This week, local oil companies implemented increases in gasoline and diesel by P0.70 per liter and P1 per liter respectively.
Gasoline, diesel prices to increase by P1 next week, This news data comes from:http://www.705-888.com
- Govt eyes charges vs Discayas over 'unfinished' PH Film Heritage Building
- Students, faculty file complaint against Universidad de Manila president
- 100K Pakistanis flee amid flood threat
- Repairs on Chinese ship in Bajo de Masinloc collision may take 2 months - PH Navy
- DBP launches P50M program for education
- Comelec at 85: Garcia vows reforms
- Gasoline, diesel prices to increase by P1 next week
- DPWH Secretary Dizon orders perpetual ban of Wawao Builders, Syms Construction for ghost projects
- Humanoid robots showcase skills at Ancient Olympia. But they're on a long road to catch up to AI
- Sara mum, but brother thinks Torre removal due to PNP's 'internal conflicts'
