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., This news data comes from:http://052298.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.
This week, local oil companies implemented increases in gasoline and diesel by P0.70 per liter and P1 per liter respectively.
- Modi: India, Japan to 'shape the Asian century'
- MMDA readies for FIVB men’s volleyball
- Customs finds only 2 luxury cars at contractor's compound in Pasig
- Chinese bridge collapse kills at least 12 construction workers
- Hopes fading for Putin, Zelenskyy peace summit
- LBC Express Holdings top executive to retire in Oct.
- Venezuela deploys warships, drones as US destroyers draw near
- Summer brings overtourism fears for 'Bavarian Caribbean'
- Portugal mourns after Lisbon streetcar accident kills 15
- Pump prices increase for 2nd straight week
