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
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., This news data comes from:http://ox-squ-ytix-icl.gangzhifhm.com
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.
- South Africa's most vulnerable struggle to find HIV medication after US aid cuts
- Duterte Youth brings Comelec cancelation battle to Supreme Court
- Modi reaffirms India's support for Ukraine peace settlement during call with Zelenskyy
- Trump moves to cut more foreign aid, risking shutdown
- Surfacing of WPS features ‘likely’ natural occurrence, not due to dumped crushed corals
- Pope Leo XIV to Israeli president: 2-state solution needed to end Gaza war
- 15 companies vie for 'Sustainability Champions' award
- Australia expels Iran ambassador over antisemitic attacks
- Pag-IBIG Fund gives occupants 10% discount to legally buy acquired homes
- Navotas inks deal for school feeding project
