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., This news data comes from:http://gangzhifhm.com
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.
- Comelec to open nearly two-year overseas voter registration for 2028 elections
- Lone bettor wins P86M in 6/42 lotto draw for Sept 6
- Cusi charged over Malampaya deal
- Trump moves to limit US stays of students, journalists
- Sri Lanka ex-president Wickremesinghe hospitalized after arrest
- Makati distributes Blu Card cash aid
- Makati earns high rating in anti-trafficking and violence assessment
- PH, Australia, Canada hold maritime drills in West Philippine Sea
- Mayor Sotto slams Discayas, cites lies, ghost firms, and kickback allegations
- Tourists dice with danger on Hanoi's train street
