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, This news data comes from:http://itr.aichuwei.com
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
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.
- DOJ issues lookout order vs Atong Ang, others over missing cockfighters
- Police brutality fuels soaring tensions in Indonesia
- Cambodia MPs pass law allowing stripping of citizenship
- Thailand's former Prime Minister Thaksin makes surprise departure ahead of a risky court ruling
- Hontiveros urges probe on Chinese faking Filipino identity
- House committee subpoenas Sarah Discaya, 4 other contractors over flood control project anomalies
- 2,000 North Korean troops killed in Russia deployment: Seoul spy agency
- Brawner orders troops: Stop China from boarding BRP Sierra Madre at all costs
- Filipino priest wins Ramon Magsaysay Award for activism against Duterte's drug war
- Israeli protesters demand hostage deal as cabinet meets
