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.
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.
Gasoline, diesel prices to increase by P1 next week, This news data comes from:http://aichuwei.com
- President Marcos commits to boosting PH digital infrastructure
- NATO members to reach 2% defense spending goal this year
- Alex Eala makes history With comeback victory at US Open
- Australia to tackle deepfake nudes, online stalking
- DPWH engineer in bribery scandal placed under preventive suspension
- US appeals court blocks Trump's use of wartime law for deportations
- New Zealand to allow some wealthy foreign investors onto property market
- Lacson clears air over conflict with Marcoleta on flood control probe
- Putin threatens to target Western troops in Ukraine
- Xi and Putin round on West at regional summit in China
