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://eicxa.771bg.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.
- Marcos expresses support for ‘beleaguered’ Cabinet members
- Japan PM Ishiba bounces back in polls after election debacle
- Drones take on Everest's garbage
- Vico encourages citizens on Heroes’ Day to be brave
- ‘Gomez ignorant of how media works’
- Israel launches new spy satellite in 'message' to enemies
- 17 House lawmakers press Marcos administration to raise WPS issue to UN
- Sotto ousts Escudero in Senate coup
- Magnitude 5.1 earthquake rattles Surigao del Sur
- Xi and Putin reaffirm 'old friend' ties in the face of US challenges
