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.
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, This news data comes from:http://www.yamato-syokunin.com
- Appointments panel holds first session
- Gomez-Estoesta named court administrator by Supreme Court
- 'Pink and green' protests call for a reset in Indonesia
- Scramble for survivors as Afghan earthquake death toll passes 1,400
- Head of main US health agency abruptly dismissed
- Monsoon rains flood Mandaluyong, Parañaque — MMDA
- Macron says 26 countries pledge troops as a reassurance force for Ukraine after war ends
- President asks governor to expose irregularities in govt projects
- Thai court dismisses prime minister over compromising phone call with Cambodian leader
- May 12 poll results accurate, credible - OCTA Research
