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.
Gasoline, diesel prices to increase by P1 next week
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://acsslshm.gangzhifhm.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.
- New law lets foreigner investors lease land for 99 years
- Comelec: Postponed village, youth elections not in 2026 budget
- PH, Australia, Canada hold joint sea drills
- Japan prince comes of age as succession crisis looms
- DMW, pharmaceutical firm sign agreement to boost access to medicines, hospital services for OFWs, families
- US church shooter 'obsessed with idea of killing children'
- China criticizes Canadian, Australian warships transiting Taiwan Strait
- DILG denies claims ex-PNP chief ousted over firearms purchase
- New DPWH chief Dizon: "A department can't investigate itself"
- Oil firms to hike pump prices Tuesday
