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://www.gangzhifhm.com
- US senators to reinforce 'partnership' with Taiwan
- Students, faculty file complaint against Universidad de Manila president
- Nepali court: Hindu holy men's nudity not obscene
- Vico Sotto's viral post sparks ethics debate, elicits response from journalists
- House suspends DPWH budget deliberations pending submission of changes by agency, DBM
- Unnamed skeletons? US museum at center of ethical debate
- Israeli strikes in Yemen's capital kill six, Houthis say
- No Filipino fatalities in New York Tour-Bus crash, says DFA
- Argentine police recover Nazi-looted painting spotted in property ad
- Fears of new political crisis grip France
