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.
Gasoline, diesel prices to increase by P1 next week, This news data comes from:http://gyglfs.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.
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.
- Trump moves to cut more foreign aid, risking shutdown
- Search for survivors after Afghan earthquake kills 800
- Discaya companies' licenses revoked for bid-rigging
- Nepal to block unregistered social media platforms – govt
- Co out of country for medical reasons
- Marcos soon to create commission to probe flood control projects
- Palace slams Discaya couple's denial in Film Heritage Building debacle
- Motive probed for US church shooting that killed 2 children, injured 17
- More funding sought for sports commission
- Israel expects 1 million Gazans to flee new offensive
