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://yamato-syokunin.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.
- Malacañang hits back at VP Duterte's criticism on flood scam probe
- SSS rolls out historic pension reform program
- Pagasa: Rainy Monday over Visayas, Luzon areas due to LPA, 'habagat'
- PH to see ‘blood moon’ Sept. 7-8
- Sara mum, but brother thinks Torre removal due to PNP's 'internal conflicts'
- Bolsonaro verdict looms as Brazil coup trial closes
- Budget shortfall narrows in July
- DOJ issues lookout order vs Atong Ang, others over missing cockfighters
- Zelenskyy seeks talks with Trump and European leaders on slow progress of peace efforts with Russia
- May 12 poll results accurate, credible - OCTA Research
