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.
Gasoline, diesel prices to increase by P1 next week, This news data comes from:http://dhqv.erlvyiwan.com
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.
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.
- PNP chief supports lowering age of discernment
- Venezuela deploys warships, drones as US destroyers draw near
- Lacson warns lawmakers may be complicit in ghost flood control projects
- US appeals court finds Trump's global tariffs illegal
- Xi slams 'bullying' in speech to regional leaders at summit
- Legarda pushes Magna Carta of Waste Workers
- LPA affects Metro Manila, Mindanao, Visayas
- Cebu Pacific to launch direct flights between Cebu and Palawan
- Philippines presses call for ceasefire in Gaza
- Retired NBI agents urge Marcos to appoint career official to replace Santiago
