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, This news data comes from:http://dbisn.redcanaco.com
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 week, local oil companies implemented increases in gasoline and diesel by P0.70 per liter and P1 per liter respectively.
- Macron says 26 countries pledge troops as a reassurance force for Ukraine after war ends
- Trump rebrands Department of Defense as 'Department of War'
- Typhoon death toll rises in Vietnam as downed trees hamper rescuers
- Co out of country for medical reasons
- Luzon dams release water due to southwest monsoon
- PTFOMS and CHR sign agreement to improve Filipino media workers' safety
- Metro Manila disaster agencies expand response areas in preparation for 'Big One'
- Lacson to Marcoleta: I don’t want a fight but I won’t back down from one
- Israeli forces seize nearly 0,000 in West Bank raid
- A suicide bombing near a political rally in southwestern Pakistan kills 13 and wounds 30
