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.jyxingfa.com
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.
Gasoline, diesel prices to increase by P1 next week
- Inflation up 1.5% in August
- Mexican drug lord faces life in prison after pleading guilty in US court
- Police brutality fuels soaring tensions in Indonesia
- Passenger with fake Overseas Employment Certificate barred from leaving
- Lacson to Marcoleta: I don’t want a fight but I won’t back down from one
- Planning via ‘gender lens’ to make cities more inclusive — expert
- Police general suspended for ‘obstruction’ of evidence in case of missing sabungeros
- DBP launches P50M program for education
- Classes suspended in 10 Metro Manila cities due to rains
- Thai court dismisses prime minister over compromising phone call with Cambodian leader
