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., This news data comes from:http://upb.erlvyiwan.com
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.
- US appeals court finds Trump's global tariffs illegal
- Hope dwindles for survivors days after deadly Afghan quake
- Dizon asks DOJ to issue immigration lookout bulletin to 26 DPWH officials and contractors
- House party leaders want to return proposed 2026 budget to Executive
- PH Defense chief slammed for 'bad mouthing' China
- House tackles P881B public works budget amid flood control anomalies
- Oil firms to raise fuel prices this week
- Oil firms to hike pump prices Tuesday
- Brawner orders troops: Stop China from boarding BRP Sierra Madre at all costs
- 25,000 Filipinos register for Pag-IBIG's Expanded 4PH Housing Program
