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.
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 news data comes from:http://erlvyiwan.com
This week, local oil companies implemented increases in gasoline and diesel by P0.70 per liter and P1 per liter respectively.
- 100K Pakistanis flee amid flood threat
- DPWH chief rejects calls to resign as he vows to probe corruption in flood control projects
- DPWH exec fired, 2 others face dismissal over flood control mess
- Diokno urges Philippines to rejoin ICC to counter China's aggression
- PNP chief Torre relieved from post — Palace
- Malacañang hits back at VP Duterte's criticism on flood scam probe
- President asks governor to expose irregularities in govt projects
- Trump to blacklist countries for imprisoning Americans
- US senators to reinforce 'partnership' with Taiwan
- ‘Lannie’ will bring rain showers, thunderstorms over North Luzon —Pagasa
