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.gangzhifhm.com
This week, local oil companies implemented increases in gasoline and diesel by P0.70 per liter and P1 per liter respectively.
- Malaysia warns TikTok vs cyberbullying, deepfakes
- Xi and Putin reaffirm 'old friend' ties in the face of US challenges
- Marcos to attend UN meet in New York in Sept- Palace
- Ever dream of having an entry in the Guinness World Records? Here's how to do it
- Ukraine's children start new school year in underground classrooms to avoid Russian bombs
- Trump moves to cut more foreign aid, risking shutdown
- Hawaii's Kilauea volcano erupts with lava pouring out from multiple vents
- IBP to form good governance panel
- DSWD's guarantee letters now accepted in more establishments
- GoTyme gives customers 20 free InstaPay transfers per month
