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.
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 news data comes from:http://www.xs888999.com
This week, local oil companies implemented increases in gasoline and diesel by P0.70 per liter and P1 per liter respectively.
- Govt debt swells to record P17.58T
- Trough of LPA, ‘habagat’ will bring rain showers, thunderstorms across PH
- Australia government condemns anti-immigration rally in Sydney
- Thailand ruling party moves to dissolve parliament
- Israel warns Hamas to surrender or face 'annihilation'
- Heart Evangelista faces scrutiny over lifestyle as husband loses Senate presidency
- Sara Duterte calls DPWH flood control Inquiry a 'Zarzuela'
- Palace rejects Sara's offer of 'free advice' on flood solutions, says to give it to 'Mayor Baste' instead
- Berlin urges Israel to 'immediately' improve humanitarian conditions in Gaza
- No winner in lotto draws for Aug 28
