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.
Gasoline, diesel prices to increase by P1 next week, This news data comes from:http://pfngv.gyglfs.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.
- Marcos expresses support for ‘beleaguered’ Cabinet members
- Judge reverses Trump administration's cuts of billions of dollars to Harvard University
- Senate subpoenas 8 DPWH officials, contractors in flood control probe
- Filipino member of AHOP K-pop group says Manila concert a dream come true
- Fuel prices up for 3rd straight week
- 15 people hospitalized after double-decker bus crashes outside London's Victoria Station
- Thai court to rule on PM's fate after Hun Sen call leak
- Filipino fulfills dream of performing with K-pop group before home fans
- Wife and ally of ousted SKorean president indicted by special prosecutors
- India's Modi meets Japan's Ishiba as he begins Asia tour
