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., This news data comes from:http://www.gyglfs.com
Gasoline, diesel prices to increase by P1 next week
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.
- Indonesia leader orders investigation into driver's protest death
- Israeli army: Gaza City now 'a dangerous combat zone'
- What to know about Indonesia's nationwide unrest over lawmakers' perks
- Malabon City honors partners
- ICC wants Garma to testify in Duterte case
- Open mic caught Xi, Putin discussing immortality
- Marcos signs mining tax regime law
- Over 800 killed as quake rocks Afghanistan
- DILG denies allegations that PNP chief fired over firearms deal
- Pump prices increase for 2nd straight week
