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.
Gasoline, diesel prices to increase by P1 next week, This news data comes from:http://bq-cxwc-oo-hnv.yamato-syokunin.com
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 strike marks shift to military action against drug cartels
- Marcos orders lifestyle checks on all government officials amid flood control probe
- Pakistanis no reprieve from floods yet
- PH eyes global partners in biggest railway project
- NHA gives cash aid to families affected by calamity in Manila
- Thailand acting PM moves to dissolve parliament — party
- House party leaders want to return proposed 2026 budget to Executive
- Japan pledges continued support for Philippine development projects
- Sara mum, but brother thinks Torre removal due to PNP's 'internal conflicts'
- South Korea's Lee faces pivotal test at first summit with Trump
