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., This news data comes from:http://www.erlvyiwan.com
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.
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.
- Japan prince comes of age as succession crisis looms
- Putin lands in Tianjin for summit hosted by China
- President asks governor to expose irregularities in govt projects
- Israeli protesters demand hostage deal as cabinet meets
- Chinese warships shadow Philippine, Australian, Canadian drills in Zambales
- Pacifist Japan struggles to boost troops as China anxiety grows
- Unnamed skeletons? US museum at center of ethical debate
- Madagascar welcomes home skulls of Indigenous warriors taken by French colonial troops 128 years ago
- House panel defers 2026 DPWH budget until agency submit changes
- Comelec to resume BARMM polls ballot printing Thursday
