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
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://www.yamato-syokunin.com
- Argentina hunts Nazi-looted painting revealed in property ad
- Japanese climber, 102, sets Mount Fuji record
- Thailand acting PM moves to dissolve parliament — party
- No peace without end to hostilities –Arab bloc
- South Korean President vows support to Koreans arrested in US immigration raid
- DPWH told to build evacuation centers
- Afghan quake death toll surges to over 2,200
- Retired NBI agents urge Marcos to appoint career official to replace Santiago
- Comelec probes 15 contractors for illegal campaign donations
- New judge to handle Dengvaxia cases named; hearing set
