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://mcasufs.052298.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.
- Indonesia, US and allies launch joint military drills
- North Korean leader inspects new missile factory ahead of visit to China
- Senate subpoenas 8 DPWH officials, contractors in flood control probe
- Fears of new political crisis grip France
- Isko files raps over demolition of sports complex
- Japanese climber, 102, sets Mount Fuji record
- Philippines calls for Gaza ceasefire amid humanitarian crisis
- Putin tells Xi China-Russia ties are at 'unprecedented level'
- Trump rebrands Department of Defense as 'Department of War'
- Marcos signs mining tax regime law
