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.
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 news data comes from:http://redcanaco.com
This week, local oil companies implemented increases in gasoline and diesel by P0.70 per liter and P1 per liter respectively.
Gasoline, diesel prices to increase by P1 next week
- Signal No. 1 up in 13 areas; Isang to leave PAR as tropical storm
- Comelec defers BARMM district reconstitution
- Hopes dim for Putin-Zelenskyy peace summit
- International media protest over journalist deaths in Gaza
- Palace: Govt monitoring Chinese sleeper agents, PLA presence in PH
- Suspect in 2012 killing of Dutch aid worker freed
- Lacson seeks probe of 2 PH contractors' board members for conflict of interest
- Most Filipinos distrust China, see it as biggest threat — OCTA survey
- Comelec: Postponed village, youth elections not in 2026 budget
- Pangilinan pushes coordinated water management
