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://jyxingfa.com
This week, local oil companies implemented increases in gasoline and diesel by P0.70 per liter and P1 per liter respectively.
- DMW: 19 distressed OFWs return home from Jeddah
- North Korea's Kim in China ahead of massive military parade
- SpaceX cancels Starship megarocket launch
- Metro Manila disaster agencies expand response areas in preparation for 'Big One'
- Marcos expresses support for ‘beleaguered’ Cabinet members
- No winner in Ultra, Megalotto draws for Sept 5
- Palace rejects China's 'troublemaker' tag
- UN food agency chief says women and children are starving in Gaza and pressed Netanyahu on aid
- House bill seeks to regulate AI use
- 2 Marikina policemen accused of molestation
