MANILA, Philippines — Gasoline and diesel prices are expected to increase again next week due to market reactions to recent global developments, local oil industry sources said Friday.
They said that gasoline prices are expected to increase by around P0.40 to P0.60 per liter, and diesel prices by around P0.80 to P1.00 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 again next week
Local sources cited concerns over supply disruptions after Russia and Ukraine intensified their attacks on each other’s energy infrastructure, the potential impact on supply flows and global economy of the new US tariffs on India, signals from US Federal Reserve of possible interest rate cut, and large drawdown in US crude and fuel inventories.
This week, local oil companies increased their gasoline prices by P0.70 per liter, and their diesel prices by P0.50 per liter.
Gasoline, diesel prices to increase again next week, This news data comes from:http://www.erlvyiwan.com
- Japanese volunteers to PH 'bedrock' of bilateral relations, says envoy
- 'Perfect storm': UK fishermen reel from octopus invasion
- Xi and Putin's hot mic moment: How long will science extend the human life span?
- Marcos says commission on DPWH anomalies to be finalized 'very soon,' mum on Magalong participation
- NBI starts own inquiry of DPWH contracts
- Housing secretary declares 'zero-tolerance' policy on corruption
- Aggressive promos in unregulated online gambling platforms draw Filipinos — study
- Supreme Court: It’s work as usual in judiciary
- Customs recovers 10 more Discaya luxury cars
- House tackles P881B public works budget amid flood control anomalies
