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.
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://qg-cb-cmyg-cax.redcanaco.com
Gasoline, diesel prices to increase by P1 next week
This week, local oil companies implemented increases in gasoline and diesel by P0.70 per liter and P1 per liter respectively.
- Prince Harry to visit UK on anniversary of queen's death
- Pagasa sees two to four tropical cyclones hitting Philippines in September
- Australia to tackle deepfake nudes, online stalking
- Escudero subpoenaes 10 DPWH contractors for Senate probe next week
- Discaya’s construction companies competed against each other during biddings
- LTO summons driver who berated enforcer
- Cyclone's trough, habagat will bring cloudy skies, rain showers over PH
- Widespread flooding in Quezon City due to heavy rains, stranding commuters, rendering most roads impassable to vehicles
- Sara’s claims that corruption probe could be done in one day 'absolutely preposterous' – Palace
- Philippines to work more closely with US amid regional challenges
