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.
Gasoline, diesel prices to increase by P1 next week, This news data comes from:http://nhbq-nf-ibg-cmbg.jyxingfa.com
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
- Private groups back DHSUD chief's anti-corruption policy
- Russia hits seat of Ukraine government in war's biggest air attack
- Thailand set for vote on new PM after dissolution bid rejected
- Marcos, first lady visit Cambodia to boost ties
- Transport chief pushes shame campaign vs errant motorists
- Afghan quake death toll surges to over 2,200
- ERC amends net-metering rules to expand renewable energy options
- Read to reduce sentence, Uzbekistan tells prisoners
- Vico encourages citizens on Heroes’ Day to be brave
- Trump: Many Americans ‘like a dictator’
