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://dpr.gyglfs.com
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
- PH Army showcases disaster response capabilities before Thai defense officials
- Palace rejects China's 'troublemaker' tag
- SpaceX cancels Starship megarocket launch
- Bersamin letter proves Torre reassignments ‘valid’
- LPA may still develop into short-lived tropical cyclone
- Indonesian police officer fired over killing that sparked protests
- 2,000 North Korean troops killed in Russia deployment: Seoul spy agency
- PH, Australia hold live fire drills during ALON 2025 in Nueva Ecija
- Israeli forces seize nearly 0,000 in West Bank raid
- Recto: No exemption for US tech firms from digital tax
