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://www.jyxingfa.com
This week, local oil companies implemented increases in gasoline and diesel by P0.70 per liter and P1 per liter respectively.
- Macron says 26 countries pledge troops as a reassurance force for Ukraine after war ends
- Thai tycoon takes office as PM after royal endorsement
- Police officers face more charges in missing cockfight enthusiasts case
- VP Sara lauds Filipino heroes
- Madagascar welcomes home skulls of Indigenous warriors taken by French colonial troops 128 years ago
- New law lets foreigner investors lease land for 99 years
- Chinese tourist city Sanya shuts down as typhoon intensifies
- Cooperatives group lauds Konektadong Pinoy Law as milestone in digital inclusion
- Fire breaks out in Manila residential area
- Magnitude 5.1 earthquake rattles Surigao del Sur
