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, This news data comes from:http://gangzhifhm.com
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.
- Inoue says taunts 'missed the target' ahead of world title clash
- Bonoan freezes DPWH travel passes
- 'Pink and green' protests call for a reset in Indonesia
- Vico Sotto's viral post sparks ethics debate, elicits response from journalists
- House probe tackles flood control corruption: Lawmakers disclose conflicts of interest
- Major road closures in Manila announced for 2025 Bar Examinations
- Taylor Swift, Travis Kelce engaged
- 1 in 4 people lack access to safe drinking water — UN
- Lacson seeks probe of 2 PH contractors' board members for conflict of interest
- US strike marks shift to military action against drug cartels
