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., This news data comes from:http://redcanaco.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.
Gasoline, diesel prices to increase by P1 next week
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.
Gasoline, diesel prices to increase by P1 next week
This week, local oil companies implemented increases in gasoline and diesel by P0.70 per liter and P1 per liter respectively.
- Repairs on Chinese ship in Bajo de Masinloc collision may take 2 months - PH Navy
- North Korea test-fires two 'new' air defense missiles
- Indonesia, US and allies launch joint military drills
- Philippines presses call for ceasefire in Gaza
- Marcos opens Hyundai's shipyard in PH
- Sara favors punishing officials, lifestyle checks
- Marcos signs mining tax regime law
- Mexican senators come to blows after heated debate
- Mexican boxer Chavez Jr. released from prison pending trial
- Globe: Mobile data helps drive national progress
