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
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 news data comes from:http://nnke.redcanaco.com
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.
- ERC amends net-metering rules to expand renewable energy options
- Motive probed for US church shooting that killed 2 children, injured 17
- Australia government condemns anti-immigration rally in Sydney
- Bonoan resigned due to command responsibility — Marcos
- Marcos declares holidays for 2026
- LPA affects Metro Manila, Mindanao, Visayas
- China 'elephant in the room' at fraught Pacific Islands summit
- House holds budget review with 21 civil society organizations
- Comelec delays implementation of decision disqualifying Duterte Youth Party-List
- Ballots for oct 13 BARMM polls completed – Comelec
