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.
Gasoline, diesel prices to increase by P1 next week, This news data comes from:http://www.705-888.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.
- Open mic caught Xi, Putin discussing immortality
- Xi meets Modi as China and India seek to rebuild ties
- Transport chief pushes shame campaign vs errant motorists
- Emma Tiglao crowned Miss Grand PH 2025
- Marcos opens Hyundai's shipyard in PH
- Australia to tackle deepfake nudes, online stalking
- Marcos, first lady visit Cambodia to boost ties
- Modi: India, Japan to 'shape the Asian century'
- Isko Moreno files charges against contractor over illegal demolition of sports complex in Manila
- Comelec delays implementation of decision disqualifying Duterte Youth Party-List
