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.771bg.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.
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.
This week, local oil companies implemented increases in gasoline and diesel by P0.70 per liter and P1 per liter respectively.
- NBI slaps Alice Guo, 35 Others with new graft, misconduct cases
- Shooting of Indonesian diplomat in Peru investigated as a contract killing
- South Africa's most vulnerable struggle to find HIV medication after US aid cuts
- PNP disputes China's crime advisory, says Philippines crime rate dropped
- Israeli army: Gaza City now 'a dangerous combat zone'
- ‘40% of Filipinos obese’
- Israeli strikes in Yemen's capital kill six, Houthis say
- Construction managers, developers back Housing chief's anti-corruption advocacy
- Police officers face more charges in missing cockfight enthusiasts case
- 13 massage therapists robbed, 2 cry rape
