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., This news data comes from:http://redcanaco.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
- OVP ready to submit to lifestyle check if ordered, no word from Sara
- Earthquake in eastern Afghanistan kills at least 610 people and injures 1,300
- Berlin urges Israel to 'immediately' improve humanitarian conditions in Gaza
- Mob burns Nigerian woman to death over Islam blasphemy claim — police
- Hontiveros pushes P15,000 salary hike for teachers
- Trump rebrands Department of Defense as 'Department of War'
- ERC amends net-metering rules to expand renewable energy options
- Thai court dismisses prime minister over compromising phone call with Cambodian leader
- Zelenskyy meets European leaders on Ukraine security guarantees
- ICC wants Garma to testify in Duterte case
