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://www.771bg.com
This week, local oil companies implemented increases in gasoline and diesel by P0.70 per liter and P1 per liter respectively.
- NBI starts own inquiry of DPWH contracts
- Motive probed for US church shooting that killed 2 children, injured 17
- Escudero subpoenaes 10 DPWH contractors for Senate probe next week
- Sotto willing to testify in Senate probe of flood control anomalies if summoned
- Macron says 26 countries pledge troops as a reassurance force for Ukraine after war ends
- DPWH opens foreign-assisted projects to LGUs
- Vietnam evacuates thousands ahead of Typhoon Kajiki
- Monsoon rains flood Mandaluyong, Parañaque — MMDA
- Xi meets Modi as China and India seek to rebuild ties
- Major road closures in Manila announced for 2025 Bar Examinations
