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://kkdatj.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.
Gasoline, diesel prices to increase by P1 next week
- 100K Pakistanis flee amid flood threat
- PH doesn't recognize Taiwan as sovereign state, stands by 'One China Policy' -- Foreign Affairs chief
- Fire breaks out in Manila residential area
- Japanese volunteers to PH 'bedrock' of bilateral relations, says envoy
- Kris Aquino is alive, says friend amid reports of death
- Lacson: Torre 'acted beyond his authority'
- Wife and ally of ousted SKorean president indicted by special prosecutors
- More funding sought for sports commission
- 2028 polls overseas voter registration opens in Dec
- Sara Duterte calls DPWH flood control Inquiry a 'Zarzuela'
