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.
Gasoline, diesel prices to increase by P1 next week
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://mn-vao-mj-sfc.ycyzqzxyh.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.
- Lacson wants 1-year 'experiment' to break cycle of corruption in the budget process
- SEARCH WARRANT
- North Korea test-fires two 'new' air defense missiles
- MMDA unveils plan to build rainwater impounding facilities in Camp Aguinaldo
- Suspect in 2012 killing of Dutch aid worker freed
- LTO summons driver who berated enforcer
- Lacson warns lawmakers may be complicit in ghost flood control projects
- Dizon asks DOJ to issue immigration lookout bulletin to 26 DPWH officials and contractors
- HFMD cases on the rise
- Trump: Many Americans ‘like a dictator’
