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.
Gasoline, diesel prices to increase by P1 next week
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://mxqpyv.ycyzqzxyh.com
This week, local oil companies implemented increases in gasoline and diesel by P0.70 per liter and P1 per liter respectively.
- President asks governor to expose irregularities in govt projects
- US warship heading toward Caribbean Sea
- What to know about Indonesia's nationwide unrest over lawmakers' perks
- Trump frustrated after thinking he made headway on Russia-Ukraine talks only to see Putin balk
- UN food agency chief says women and children are starving in Gaza and pressed Netanyahu on aid
- IBP forms committee on good governance to probe corruption
- More funding sought for sports commission
- DPWH seeks lookout bulletin vs officials, contractors in ghost projects
- 'Perfect storm': UK fishermen reel from octopus invasion
- Gaza at 'breaking point,' says UN food agency chief after visit
