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.
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., This news data comes from:http://gangzhifhm.com
- Pump prices increase for 2nd straight week
- IBP forms committee on good governance to probe corruption
- Indonesia leader orders investigation into driver's protest death
- Thousands protest in Nepal over social media ban, corruption
- No winner in lotto draws for Aug 28
- ERC amends net-metering rules to expand renewable energy options
- Veteran Thai politician Anutin Charnvirakul wins vote in Parliament to become next prime minister
- Group presses DA on delayed fertilizer subsidies
- Gasoline, diesel prices to increase again next week
- US appeals court blocks Trump's use of wartime law for deportations
