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
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.
Gasoline, diesel prices to increase by P1 next week
This week, local oil companies implemented increases in gasoline and diesel by P0.70 per liter and P1 per liter respectively., This news data comes from:http://ow.aichuwei.com
- Filipino member of AHOF K-pop group says Manila concert a dream come true
- DSWD allocates P6.2B for livelihood program
- Pasig fire kills child, injures mother as she tries to save him
- NHA gives cash aid to families affected by calamity in Manila
- Heavy rain falls in parts of Southeast Asia after tropical storm blows into Vietnam
- US senators to reinforce 'partnership' with Taiwan
- UK refuses to invite Israeli government officials to London arms fair over the war in Gaza
- Former Bulacan district engineer admits going to casinos
- Hope dwindles for survivors days after deadly Afghan quake
- No winner in Grand, Megalotto draws for Aug 27
