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://yamato-syokunin.com
This week, local oil companies implemented increases in gasoline and diesel by P0.70 per liter and P1 per liter respectively.
- Gasoline, diesel price hikes seen next week
- French couple kept panther that roamed nearby rooftops
- No winner in Grand, Megalotto draws for Aug 27
- Discaya says her family owns nine companies
- 'Pink and green' protests call for a reset in Indonesia
- Philippines calls for Gaza ceasefire amid humanitarian crisis
- Marcos says commission on DPWH anomalies to be finalized 'very soon,' mum on Magalong participation
- ChatGPT to get parental controls after teen's death
- Discaya companies' licenses revoked for bid-rigging
- Police officers face more charges in missing cockfight enthusiasts case
