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., This news data comes from:http://705-888.com
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.
- Group presses DA on delayed fertilizer subsidies
- UK refuses to invite Israeli government officials to London arms fair over the war in Gaza
- Comelec: Postponed village, youth elections not in 2026 budget
- Japan pledges continued support for Philippine development projects
- Read to reduce sentence, Uzbekistan tells prisoners
- What to know about Indonesia's nationwide unrest over lawmakers' perks
- Puno seeks probe of anomalous projects ‘funders’
- Duterte defense files more motions challenging ICC prosecutor
- DILG to roll out nationwide unified 911 hotline on Sept. 11
- Wife of Australian man wanted in police killings urges him to surrender
