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://771bg.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.
- Comelec: Postponed village, youth elections not in 2026 budget
- Marcos orders 'sweeping review' of DPWH budget under 2026 NEP
- Venezuela builds up border security over US warships
- UK refuses to invite Israeli government officials to London arms fair over the war in Gaza
- Philippines to launch shame campaign vs traffic violators
- Nartatez to reassign Torre if he won't retire, says they're 'okay'
- Read to reduce sentence, Uzbekistan tells prisoners
- Gomez-Estoesta named court administrator by Supreme Court
- Palace rejects Sara's offer of 'free advice' on flood solutions, says to give it to 'Mayor Baste' instead
- LBC Express Holdings top executive to retire in Oct.
