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.
Gasoline, diesel prices to increase by P1 next week, This news data comes from:http://bwwriru.705-888.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.
This week, local oil companies implemented increases in gasoline and diesel by P0.70 per liter and P1 per liter respectively.
- Thailand's suspended prime minister testifies over phone call that could get her booted from job
- House holds budget review with 21 civil society organizations
- Kanlaon Volcano spews ash
- Two dead as strong earthquake jolts Afghanistan
- An AI simulation of a Mount Fuji eruption is being used to prepare Tokyo for the worst
- Earthquake kills 250, injures 500 in Afghanistan
- Marcos signs law giving 99-year land lease to foreign investors
- New mining law to balance profit, ecology
- UK, Japan, South Korea endure hottest summer on record
- Philippine forces deliver supplies and personnel to disputed South China Sea shoal despite tensions
