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.
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, This news data comes from:http://hu-hfjp-cw-out.yamato-syokunin.com
- DPWH to revisit budget, to complete revisions within 2 weeks
- Lacson to give Dizon 'damning' proof vs DPWH 'rotten fruits'
- May 12 poll results accurate, credible - OCTA Research
- Read to reduce sentence, Uzbekistan tells prisoners
- Supreme Court: It’s work as usual in judiciary
- Can a giant seawall save Indonesia's disappearing coast?
- Marcos, first lady visit Cambodia to boost ties
- BIR to audit contractors flagged for ghost flood projects for tax fraud — BIR
- PNP chief Torre relieved from post — Palace
- DoJ to begin preliminary investigation into missing cockfighting enthusiasts
