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.
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 news data comes from:http://aet-eft-wefe-pqmw.705-888.com
This week, local oil companies implemented increases in gasoline and diesel by P0.70 per liter and P1 per liter respectively.
- 'Perfect storm': UK fishermen reel from octopus invasion
- Youth group to SC: Stop postponement of BSKE
- Madagascar welcomes home skulls of Indigenous warriors taken by French colonial troops 128 years ago
- Preliminary report on Lisbon funicular accident expected
- A summit and parade in China may signal a geopolitical shift
- Thailand's former Prime Minister Thaksin makes surprise departure ahead of a risky court ruling
- Peace efforts in limbo as Kyiv mourns 23 dead
- Filipino fulfills dream of performing with K-pop group before home fans
- Philippine forces deliver supplies and personnel to disputed South China Sea shoal despite tensions
- Philippines presses call for ceasefire in Gaza
