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., This news data comes from:http://www.771bg.com
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
- Modi reaffirms India's support for Ukraine peace settlement during call with Zelenskyy
- 102-year-old becomes oldest person to summit Mount Fuji
- Van Gogh Museum 'could close' without more help from Dutch govt
- ‘Lannie’ will bring rain showers, thunderstorms over North Luzon —Pagasa
- Israel expects 1 million Gazans to flee new offensive
- Japan accelerates missile deployment amid rising regional tensions
- Scramble for survivors as Afghan earthquake death toll passes 1,400
- Marcos 'ready' to undergo lifestyle check- Palace
- Comelec delays implementation of decision disqualifying Duterte Youth Party-List
- Wildfire tears through California gold rush town
