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.
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 news data comes from:http://www.aichuwei.com
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
- Alex Eala makes history With comeback victory at US Open
- Isko Moreno files charges against contractor over illegal demolition of sports complex in Manila
- Venezuela deploys warships, drones as US destroyers draw near
- Zelenskyy seeks talks with Trump and European leaders on slow progress of peace efforts with Russia
- House holds budget review with 21 civil society organizations
- US senators to reinforce 'partnership' with Taiwan
- Comelec upholds cancelation of Duterte Youth registration
- Russia hits seat of Ukraine government in war's biggest air attack
- Senate subpoenas 8 DPWH officials, contractors in flood control probe
- Malabon City honors partners
