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.
Gasoline, diesel prices to increase by P1 next week
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.705-888.com
This week, local oil companies implemented increases in gasoline and diesel by P0.70 per liter and P1 per liter respectively.
- Tensions soar in Indonesia as protests over police brutality and lawmakers' allowances continue
- Marcos to youth: Help in nation-building
- ‘Gomez ignorant of how media works’
- La Niña forecast from Sept-Dec, expect more tropical cyclones, above normal rainfall -- Pagasa
- House tackles P881B public works budget amid flood control anomalies
- AFP chief tells troops: Stop Chinese from entering PH ship marooned on WPS territory at all cost
- PNP chief Torre relieved, Nartatez to take over
- Maryland resident is diagnosed with New World screwworm. What to know about the parasite
- Hopes dim for Putin-Zelenskyy peace summit
- BuCor chief calls for major reforms
