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., This news data comes from:http://erlvyiwan.com
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 week, local oil companies implemented increases in gasoline and diesel by P0.70 per liter and P1 per liter respectively.
- Thousands protest in Indonesia as military deployed in capital
- Taiwan: China illegally deploying oil rigs in its waters
- Australia's 'mushroom murderer' handed life in prison with parole
- Sotto willing to testify in Senate probe of flood control anomalies if summoned
- Makati earns high rating in anti-trafficking and violence assessment
- Duterte Youth brings Comelec cancelation battle to Supreme Court
- Supreme Court: It’s work as usual in judiciary
- Quezon City hails directive for national projects to get local permits
- GoTyme gives customers 20 free InstaPay transfers per month
- Comelec to open nearly two-year overseas voter registration for 2028 elections
