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., This news data comes from:http://gct-ku-rw-sm.705-888.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.
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.
Gasoline, diesel prices to increase by P1 next week
- Thailand's Parliament to vote Friday for a new prime minister
- Arjo Atayde, Vice Ganda, Marian Rivera win top acting honors at 73rd FAMAS Awards
- IBP forms committee on good governance to probe corruption
- Comelec probes 15 govt contractors over 2022 election donations
- PNP chief supports lowering age of discernment
- Israel ups pressure on Gaza City as Trump talks post-war plan
- Philippine experts urge harm reduction strategy for tobacco control
- DOST, SM Supermalls partner to empower businesses with sustainable practices
- Konektadong Pinoy bill lapses into law
- Rains over Metro Manila, parts of PH as LPA may develop into 'short-lived' tropical depression
