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., This news data comes from:http://www.gangzhifhm.com
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.
- Israel tells residents to leave Gaza City ahead of offensive
- Need a pee? Japan has QR code for that
- Manila mayor warns against mobs, orders police to maintain peace and order
- Bolsonaro verdict looms as Brazil coup trial closes
- Trump to blacklist countries for imprisoning Americans
- Earthquake kills 250, injures 500 in Afghanistan
- Zelenskyy seeks talks with Trump and European leaders on slow progress of peace efforts with Russia
- Isko Moreno files charges against contractor over illegal demolition of sports complex in Manila
- DHSUD chief cites accomplishments
- Manila Water announces service disruption for over 12K households in Mandaluyong due to leak repair
