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.
Gasoline, diesel prices to increase by P1 next week
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://yamato-syokunin.com
Gasoline, diesel prices to increase by P1 next week
- Malaysia warns TikTok vs cyberbullying, deepfakes
- 'Lannie' exits PH — Pagasa
- Government work, classes on Tuesday suspended due to bad weather
- SC orders comment on petitions vs polls
- Senate subpoenas 8 DPWH officials, contractors in flood control probe
- Isko files raps over demolition of sports complex
- 25,000 Filipinos register for Pag-IBIG's Expanded 4PH Housing Program
- Israeli army: Gaza City now 'a dangerous combat zone'
- Appointments panel holds first session
- Lacson clears air over conflict with Marcoleta on flood control probe
