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
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, This news data comes from:http://tomqbuj.aichuwei.com
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.
- Kris Aquino is alive, says friend amid reports of death
- Drug war whistleblower Royina Garma returns to PH after US detention
- Globe partners with unconnected.org to provide remote schools with sustainable internet connectivity
- US Spirit Airlines files for bankruptcy again
- Sara slams govt corruption probe as a 'political zarzuela,' to meet with Robredo at Bicol festival
- Thai PM Paetongtarn Shinawatra sacked; new turmoil feared
- Public Works Chief Vince Dizon demands courtesy resignations to 'clean house'
- China's Xi holds talks with North Korea's Kim in Beijing
- Support grows for independent probe into flood control projects
- Philippines to work more closely with US amid regional challenges
