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.gangzhifhm.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.
- Govt eyes charges vs Discayas over 'unfinished' PH Film Heritage Building
- Most Filipinos distrust China, see it as biggest threat — OCTA survey
- Marcos orders 'sweeping review' of DPWH budget under 2026 NEP
- LBC Express Holdings top executive to retire in Oct.
- 500 Internal Server Error
- Bureau of Customs seeks missing luxury cars of contractor Sarah Discaya
- Pakistanis no reprieve from floods yet
- Four children killed by parents in Dominican Republic — police
- 2 policemen placed under preventive custody for allegedly molesting a female colleague in Marikina
- Pagasa monitors LPA off Cavite, may still become tropical depression
