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., This news data comes from:http://www.jyxingfa.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.
Gasoline, diesel prices to increase by P1 next week
This week, local oil companies implemented increases in gasoline and diesel by P0.70 per liter and P1 per liter respectively.
- ICC clears applications of 15 drug war victims to join proceedings vs Duterte
- Protesters storm Discaya compound for second straight day
- Inflation up 1.5% in August
- Australia's mushroom murderer faces victims' family in court
- UK, Japan, South Korea endure hottest summer on record
- Isko Moreno files charges against contractor over illegal demolition of sports complex in Manila
- DPWH exec asked lawmaker to make budget insertions — Lacson
- ChatGPT to get parental controls after teen's death
- MMDA proposes rainwater facilities in Camp Aguinaldo to mitigate EDSA flooding
- Alex Eala makes history With comeback victory at US Open
