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., This news data comes from:http://fhyyhbqc.052298.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.
Gasoline, diesel prices to increase by P1 next week
- Passenger with fake Overseas Employment Certificate barred from leaving
- Two dead as strong earthquake jolts Afghanistan
- Dial 911: New nationwide emergency hotline to go live on Sept. 11
- Surfacing of WPS features ‘likely’ natural occurrence, not due to dumped crushed corals
- US church shooter 'obsessed with idea of killing children'
- Putin tells Xi China-Russia ties are at 'unprecedented level'
- DBP launches P50M program for education
- House resolution filed to investigate 'funders' of anomalous projects
- India warns Pakistan of more cross-border flooding due to heavy monsoon rains
- Construction managers, developers back Housing chief's anti-corruption advocacy
