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, This news data comes from:http://ptb-oft-phr-mdje.052298.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.
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
- India warns Pakistan of more cross-border flooding due to heavy monsoon rains
- NHA gives cash aid to families affected by calamity in Manila
- Housing secretary declares 'zero-tolerance' policy on corruption
- Venezuela deploys warships, drones as US destroyers draw near
- Choose Ombudsman with integrity, intelligence, insight – Cayetano
- No winner in Ultra, Megalotto draws for Aug 29
- DOTr denies ordering shutdown of online selling platforms
- PH Construction Board asked to address 'accreditation for sale' scandal
- President Marcos commits to boosting PH digital infrastructure
- Australia expels Iran ambassador over antisemitic attacks
