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.
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.
Gasoline, diesel prices to increase by P1 next week, This news data comes from:http://xs888999.com
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
- Comelec at 85: Garcia vows reforms
- Firefighters arrested by US immigration officials
- Scramble for survivors as Afghan earthquake death toll passes 1,400
- Indonesia turns down ear-splitting 'haram' street parties
- Brawner orders troops: Stop China from boarding BRP Sierra Madre at all costs
- House starts flood control probe
- What to know about Indonesia's nationwide unrest over lawmakers' perks
- FBI raids home of Trump critic, former adviser
- Escudero subpoenaes 10 DPWH contractors for Senate probe next week
