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.
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., This news data comes from:http://771bg.com
Gasoline, diesel prices to increase by P1 next week
- Pope Leo's first international trip could be to Lebanon, cardinal says
- Lookout bulletins out vs Atong Ang, Barretto
- Pagasa monitors LPA off Cavite, may still become tropical depression
- UK's mass facial-recognition roll-out alarms rights groups
- Dizon to order DPWH officials to submit courtesy resignation
- President Marcos commits to boosting PH digital infrastructure
- Pagasa: 'Isang' over Quirino, 16 areas in Luzon under Signal No. 1
- SKorea’s Lee in Tokyo to show friendship
- LTO summons driver who berated MMDA enforcer
- Construction managers, developers back Housing chief's anti-corruption advocacy
