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 week, local oil companies implemented increases in gasoline and diesel by P0.70 per liter and P1 per liter respectively.
Gasoline, diesel prices to increase by P1 next week, This news data comes from:http://jyxingfa.com
- Firefighters arrested by US immigration officials
- 15 people hospitalized after double-decker bus crashes outside London's Victoria Station
- Pope Leo meets LGBTQ+ Catholic advocate and vows continuity with Pope Francis' legacy of welcome
- Meeting South Korea, Trump could eye new chance with North
- Sen. Go files bills to push health, social, and labor reforms
- Thai opposition holds kingmaking summit deciding new PM
- Duterte Youth brings Comelec cancelation battle to Supreme Court
- CFO office moves from Quezon City to Pasay
- Pagasa: Trough of LPA, 'habagat' will bring rain, thunderstorms across PH
- Philippines to launch shame campaign vs traffic violators
