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, This news data comes from:http://dceas.gyglfs.com
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.
- PH to host seafarers’ welfare forum
- Monsoon rains flood Mandaluyong, Parañaque — MMDA
- Putin threatens to target Western troops in Ukraine
- 2 LPAs monitored inside PAR, bringing rain to Luzon
- One in four people lack access to safe drinking water – UN
- Israel launches new spy satellite in 'message' to enemies
- Marcos opens Hyundai's shipyard in PH
- IBP to form good governance panel
- Follow the trucks: Why investors are looking south of Metro Manila
- Major road closures in Manila announced for 2025 Bar Examinations
