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.
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.
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., This news data comes from:http://bqdmy.yamato-syokunin.com
- Fears of new political crisis grip France
- UN force in Lebanon slams Israeli drone attack on peacekeepers
- Prime minister of Yemen's Houthi-run government killed in Israeli strike
- Read to reduce sentence, Uzbekistan tells prisoners
- DOJ issues lookout order vs Atong Ang, others over missing cockfighters
- No winner in Ultra, Megalotto draws for Sept 5
- Trump moves to limit US stays of students, journalists
- Some areas in Metro Manila, Bulacan, Quezon to have power interruptions due to maintenance work
- US church shooter 'obsessed with idea of killing children'
- DILG suspends classes, gov’t work in 17 areas
