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://tf.jyxingfa.com
Gasoline, diesel prices to increase by P1 next week
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
- New law lets foreigner investors lease land for 99 years
- Boy killed, mother injured in Pasig fire
- Denmark summons US envoy over 'attempts to influence' Greenland
- Preliminary report on Lisbon funicular accident expected
- Lacson seeks probe of 2 PH contractors' board members for conflict of interest
- Aftershocks rumble quake-hit Afghanistan as death toll tops 1,400
- Xi and Putin reaffirm 'old friend' ties in the face of US challenges
- Epstein victims compiling list of sexual abusers
- Marcos confers diplomatic merit award on two ambassadors
- Comelec to resume BARMM polls ballot printing Thursday
