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., This news data comes from:http://www.705-888.com
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 week, local oil companies implemented increases in gasoline and diesel by P0.70 per liter and P1 per liter respectively.
- Protesters storm Discaya office in Pasig to demand accountability for 'ghost flood control projects'
- Thailand ruling party moves to dissolve parliament
- PTFOMS and CHR sign agreement to improve Filipino media workers' safety
- Xi meets Modi as China and India seek to rebuild ties
- Japanese climber, 102, sets Mount Fuji record
- North Korean leader inspects new missile factory ahead of visit to China
- Private groups back DHSUD chief's anti-corruption policy
- 17 House lawmakers press Marcos administration to raise WPS issue to UN
- UK refuses to invite Israeli government officials to London arms fair over the war in Gaza
- PH Defense chief slammed for 'bad mouthing' China
