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 news data comes from:http://771bg.com
This week, local oil companies implemented increases in gasoline and diesel by P0.70 per liter and P1 per liter respectively.
- Thailand set for vote on new PM after dissolution bid rejected
- DOJ issues lookout order vs Atong Ang, others over missing cockfighters
- National Guard troops begin carrying weapons in US capital
- Japan accelerates missile deployment amid rising regional tensions
- Malabon shifts garbage disposal to Rizal landfill after Navotas closure
- Thailand ruling party moves to dissolve parliament
- Actress Angel Aquino victim of 'deepfake,' seeks prosecution of perpetrators of cyber pornography
- Pagasa: Trough of LPA, 'habagat' will bring rain, thunderstorms across PH
- Meeting South Korea, Trump could eye new chance with North
- Napolcom welcomes Nartatez’s move to recall Torre’s reassignments
