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., This news data comes from:http://gangzhifhm.com
These estimates are based on the 4-day trading of Mean of Platts, Singapore, the pricing basis of refined goods in Southeast Asia.
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.
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.
- One in four people lack access to safe drinking water – UN
- Government work, classes on Tuesday suspended due to bad weather
- Marcos declares holidays for 2026
- Thailand ruling party moves to dissolve parliament
- Guyana votes amid oil boom, Venezuela tensions
- Over 800 killed as quake rocks Afghanistan
- President Marcos commits to boosting PH digital infrastructure
- 'God's Influencer' to become first millennial saint
- Sri Lanka ex-president Wickremesinghe hospitalized after arrest
- Alice Guo faces new cases over POGO land
