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.
Gasoline, diesel prices to increase by P1 next week
These estimates are based on the 4-day trading of Mean of Platts, Singapore, the pricing basis of refined goods in Southeast Asia., This news data comes from:http://bphq.771bg.com
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.
- Over 800 killed as quake rocks Afghanistan
- Comelec upholds cancelation of Duterte Youth registration
- Sara Discaya admits owning 28 luxury cars
- International media protest over journalist deaths in Gaza
- Majority of Filipinos unaware of vote buying in 2025 elections, OCTA survey shows
- Comelec probes 15 contractors for illegal campaign donations
- Discaya says her family owns nine companies
- More funding sought for sports commission
- Sarah Discaya grilled by Senate over alleged DPWH links
- N. Korea test-fires two 'new' air defense missiles
