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.
Gasoline, diesel prices to increase by P1 next week, This news data comes from:http://www.redcanaco.com
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.
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
- Labubu fans flock to stores after launch of mini dolls
- Pagasa sees two to four tropical cyclones hitting Philippines in September
- Some National Guard units in Washington are now carrying firearms in escalation of Trump deployment
- Kris Aquino is alive, says friend amid reports of death
- No winner in Ultra, Megalotto draws for Sept 5
- Former DPWH chief denies links to corruption
- Palace hits Discayas over ‘misinformation’ on PH film center project
- IBP forms committee on good governance to probe corruption
- Co out of country for medical reasons
- Zelenskyy seeks talks with Trump and European leaders on slow progress of peace efforts with Russia
