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://www.705-888.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.
- Mayor Sotto slams Discayas, cites lies, ghost firms, and kickback allegations
- Denmark summons US envoy over 'attempts to influence' Greenland
- Taiwan: China illegally deploying oil rigs in its waters
- PH has chance of getting UNSC seat - Manalo
- Escudero subpoenaes 10 DPWH contractors for Senate probe next week
- Japan accelerates missile deployment amid rising regional tensions
- Trump rebrands Department of Defense as 'Department of War'
- PH, Japan conduct search and rescue exercises
- National Guard troops begin carrying weapons in US capital
- Manila mayor warns against mobs, orders police to maintain peace and order
