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.
Gasoline, diesel prices to increase by P1 next week
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://gcago.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.
- Hontiveros pushes P15,000 salary hike for teachers
- Wildfires producing 'witches' brew' of air pollution – UN
- Surfacing of WPS features ‘likely’ natural occurrence, not due to dumped crushed corals
- P1.7-M shabu seized in Taguig buy-bust
- Kris Aquino is alive, says friend amid reports of death
- Pope meets with Chagos refugees and delivers message about rights of the weak against the powerful
- 500 Internal Server Error
- North Korea's Kim in China ahead of massive military parade
- Legarda pushes Magna Carta of Waste Workers
- Five journalists among 20 killed in Israeli strikes on Gaza hospital
