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.
Gasoline, diesel prices to increase by P1 next week, This news data comes from:http://www.052298.com
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.
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
- Marcos approves EO for commission to probe flood project anomalies
- Appointments panel holds first session
- Police officers face more charges in missing cockfight enthusiasts case
- DILG suspends classes, gov’t work in 17 areas
- Berlin urges Israel to 'immediately' improve humanitarian conditions in Gaza
- Pope demands end to 'collective punishment' and forced displacement of Palestinians in Gaza
- MPD announces road closures for Bar exams
- Filipino fulfills dream of performing with K-pop group before home fans
- Customs recovers 10 more Discaya luxury cars
- Peru’s ex-president Toledo gets a second sentence in the Odebrecht corruption scandal
