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.
Gasoline, diesel prices to increase by P1 next week, This news data comes from:http://www.gyglfs.com
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 week, local oil companies implemented increases in gasoline and diesel by P0.70 per liter and P1 per liter respectively.
- 4 policemen linked to sabungero case slapped with more administrative cases
- ‘God’s Influencer’ to become first millennial saint
- Sen. Hontiveros pushes for Philippine Geriatric Center to aid seniors
- Alex Eala makes history With comeback victory at US Open
- Government work, classes on Tuesday suspended due to bad weather
- Palace to Discayas: Prove allegations
- Construction managers, developers back Housing chief's anti-corruption advocacy
- Alice Guo faces new cases over POGO land
- Marcos leads oath taking of new officers of League of Provinces of the Philippines
- Tokyo protests to Beijing over gas field in East China Sea
