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
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://bvo.gyglfs.com
This week, local oil companies implemented increases in gasoline and diesel by P0.70 per liter and P1 per liter respectively.
- Mob burns Nigerian woman to death over Islam blasphemy claim — police
- Islamic State claims deadly attack on Pakistan rally
- Putin and Modi in China for summit hosted by Xi
- Taylor Swift, Travis Kelce engaged
- New law lets foreigner investors lease land for 99 years
- SSS pension reform program starts in September
- Israel flattens high-rise as it tells Gaza City residents to flee
- Thailand set for vote on new PM after dissolution bid rejected
- Nartatez vows to be fair in making reassignments
- Trump threatens Russia with sanctions after biggest aerial attack on Ukraine
