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., This news data comes from:http://www.gangzhifhm.com
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.
- Philippines to work more closely with US amid regional challenges
- Tensions soar in Indonesia as protests over police brutality and lawmakers' allowances continue
- Trump says he wants to meet North Korea's Kim again
- Mexican senators come to blows after heated debate
- Pagasa: 'Isang' over Quirino, 16 areas in Luzon under Signal No. 1
- Escudero subpoenas 5 contractors, 3 DPWH executives to Senate probe
- PH Army showcases disaster response capabilities before Thai defense officials
- Palace suspends govt work, classes in several areas due to bad weather
- Afghan quake death toll surges to over 2,200
- Judge reverses Trump administration's cuts of billions of dollars to Harvard University
