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, This news data comes from:http://www.aichuwei.com
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 week, local oil companies implemented increases in gasoline and diesel by P0.70 per liter and P1 per liter respectively.
- IBP to form good governance panel
- UK's mass facial-recognition roll-out alarms rights groups
- US agents arrest 475 in Hyundai-LG plant raid
- 'Large shark' kills man off Sydney beach
- Wawao Builders exec ‘not sure’ if company has flood control project in Bulacan
- LPA over West PH Sea develops into tropical depression, now called ‘Jacinto’ -- Pagasa
- Modi, Ishiba agree to boost economic ties
- Pag-IBIG: More than 25k register for socialized housing units under Expanded 4PH
- DPWH Secretary Dizon orders perpetual ban of Wawao Builders, Syms Construction for ghost projects
- Israel expects 1 million Gazans to flee new offensive
