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.
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.
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, This news data comes from:http://gangzhifhm.com
- Harold Cabreros takes post as new OCD chief
- Modi: India, Japan to 'shape the Asian century'
- Remulla pledges transparency and impartiality as Ombudsman
- Sarah Discaya grilled by Senate over alleged DPWH links
- Israel expects 1 million Gazans to flee new offensive
- Senate subpoenas 8 DPWH officials, contractors in flood control probe
- Pag-IBIG: More than 25k register for socialized housing units under Expanded 4PH
- Dizon to abolish DPWH internal special investigation team created to look into the flood control anomalies
- Escudero urges list of unfundable projects for 2026 budget
- Palace rejects Sara's offer of 'free advice' on flood solutions, says to give it to 'Mayor Baste' instead
