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://fxovd.aichuwei.com
- ‘New NBI chief must be career official’
- Pasig City continues barangay aid for efficiency, ends patronage politics
- Australia's 'mushroom murderer' handed life in prison with parole
- Oil firms to raise pump prices Tuesday
- New DPWH chief Dizon: "A department can't investigate itself"
- Bersamin letter proves Torre reassignments ‘valid’
- US appeals court blocks Trump's use of wartime law for deportations
- No winner in Grand, Megalotto draws for Aug 27
- Gasoline, diesel price hikes seen next week
- US approves .5M in assistance to Nigeria to help address hunger
