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 week, local oil companies implemented increases in gasoline and diesel by P0.70 per liter and P1 per liter respectively., This news data comes from:http://di.gangzhifhm.com
- Chinese sleeper agents' and PLA operatives a threat, Lacson warns
- Marcos expresses support for ‘beleaguered’ Cabinet members
- President Marcos commits to boosting PH digital infrastructure
- Argentine police recover Nazi-looted painting spotted in property ad
- Police general suspended for ‘obstruction’ of evidence in case of missing sabungeros
- Marcos approves EO for commission to probe flood project anomalies
- ‘40% of Filipinos obese’
- Tourists dice with danger on Hanoi's train street
- PNP chief Torre relieved, Nartatez to take over
- Gasoline, diesel prices to increase again next week
