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
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.052298.com
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
- Galvez to MILF: Resolve divisions, protect Bangsamoro peace gains
- 15 companies vie for 'Sustainability Champions' award
- Trump to blacklist countries for imprisoning Americans
- Rubio says US warned France on Israel annexation moves
- Venezuela builds up border security over US warships
- Pacifist Japan struggles to boost troops as China anxiety grows
- NKorea could produce ten to twenty nukes per year — SKorea leader
- Rains over Metro Manila, parts of PH as LPA may develop into 'short-lived' tropical depression
- Labubu fans flock to stores after launch of mini dolls
- Malaysia warns TikTok vs cyberbullying, deepfakes
