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., This news data comes from:http://awebi.gyglfs.com
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.
- Wildfire tears through California gold rush town
- India to probe giant zoo run by son of Asia's richest person
- AboitizPower pushes growth with clean, renewable energy
- Major road closures in Manila announced for 2025 Bar Examinations
- Cebu Pacific to launch direct flights between Cebu and Palawan
- PAL plane bound for Osaka returns to Manila due to 'emergency' situation
- Tourists dice with danger on Hanoi's train street
- Peru’s ex-president Toledo gets a second sentence in the Odebrecht corruption scandal
- MPD announces road closures for Bar exams
- Fire breaks out in Manila residential area
