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., This news data comes from:http://redcanaco.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.
Gasoline, diesel prices to increase by P1 next week
This week, local oil companies implemented increases in gasoline and diesel by P0.70 per liter and P1 per liter respectively.
- No peace without end to hostilities –Arab bloc
- 2 Marikina policemen accused of molestation
- HFMD cases on the rise
- Corruption crackdown: VP Sara Duterte, lawmakers call for deeper probe into government
- Filipino member of AHOP K-pop group says Manila concert a dream come true
- Support grows for independent probe into flood control projects
- Marcos names Dizon as DPWH secretary
- Israel tells residents to leave Gaza City ahead of offensive
- Court orders Immigration to release of Global Ferronickel Chairman Joseph Sy
- Portugal mourns after Lisbon streetcar accident kills 15
