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, 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.
This week, local oil companies implemented increases in gasoline and diesel by P0.70 per liter and P1 per liter respectively.
- Nartatez rules out 'quota' arrests
- Choose Ombudsman with integrity, intelligence, insight – Cayetano
- Israeli protesters call for hostage deal ahead of cabinet meeting
- Construction managers, developers back Housing chief's anti-corruption advocacy
- Artikulo Onse' group calls for independent panel to probe flood control corruption
- Tokyo logs record 10 days of 35 C or higher
- Duterte’s defense team outlines ICC strategy
- Marcos to mark ‘Thrilla In Manila’ 50th anniversary
- Gaza at 'breaking point,' says UN food agency chief after visit
- SKorea’s Lee in Tokyo to show friendship
