MANILA, Philippines — Gasoline and diesel prices are expected to increase again next week due to market reactions to recent global developments, local oil industry sources said Friday.
They said that gasoline prices are expected to increase by around P0.40 to P0.60 per liter, and diesel prices by around P0.80 to P1.00 per liter.
Gasoline, diesel prices to increase again 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., This news data comes from:http://771bg.com
Local sources cited concerns over supply disruptions after Russia and Ukraine intensified their attacks on each other’s energy infrastructure, the potential impact on supply flows and global economy of the new US tariffs on India, signals from US Federal Reserve of possible interest rate cut, and large drawdown in US crude and fuel inventories.
This week, local oil companies increased their gasoline prices by P0.70 per liter, and their diesel prices by P0.50 per liter.
- 17 House lawmakers press Marcos administration to raise WPS issue to UN
- Xi and Putin reaffirm 'old friend' ties in the face of US challenges
- 1 in 4 people lack access to safe drinking water — UN
- Inflation up 1.5% in August
- India to cut taxes on hundreds of consumer goods to boost local demand following steep US tariffs
- Palestinian Embassy echoes PH appeal for ceasefire in Gaza
- Marcos urged to raise WPS resolution at UN
- Marcos signs mining tax regime law
- Afghan quake death toll surges to over 2,200
- Indonesia leader orders investigation into driver's protest death
