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.
Gasoline, diesel prices to increase by P1 next week
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://gyglfs.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.
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.
- 'Ondoy'-level rains swamp Quezon City
- SEARCH WARRANT
- Wildfire tears through California gold rush town
- PNP chief supports lowering age of discernment
- Evicted from their forests, Kenyan hunter-gatherers fight for their rights
- UN force in Lebanon slams Israeli drone attack on peacekeepers
- Gasoline, diesel prices to increase by P1 next week
- India walks back order to clear Delhi of stray dogs
- Plea written in blood saves Chinese woman trapped in locked room
- Globe: Mobile data helps drive national progress
