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, This news data comes from:http://redcanaco.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.
This week, local oil companies implemented increases in gasoline and diesel by P0.70 per liter and P1 per liter respectively.
- DSWD program reduced hunger
- Govt preparations for WorldSkills PH hosting go 'full blast'
- Comelec completes ballot printing for Bangsamoro elections despite redistricting dispute
- Thousands protest in Indonesia as military deployed in capital
- Task force cites new threats to media workers
- Majority of Filipinos unaware of vote buying in 2025 elections, OCTA survey shows
- Fears of new political crisis grip France
- N. Korea test-fires two 'new' air defense missiles
- In Taiwan, competing narratives over the meaning of China's massive military show
- 2 LPAs monitored inside PAR, bringing rain to Luzon
