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.
Gasoline, diesel prices to increase again next week, This news data comes from:http://771bg.com
These estimates are based on the 4-day trading of Mean of Platts, Singapore, the pricing basis of refined goods in Southeast Asia.
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.
- Lacson replaces Marcoleta as Blue Ribbon panel chairman
- Marcos opens Hyundai's shipyard in PH
- Putin facing mounting pressure from the West
- China displays its weaponry in a tightly controlled military parade
- DoJ to begin preliminary investigation into missing cockfighting enthusiasts
- House committee subpoenas Sarah Discaya, 4 other contractors over flood control project anomalies
- Scramble for survivors as Afghan earthquake death toll passes 1,400
- Pagasa sees two to four tropical cyclones hitting Philippines in September
- Sotto ousts Escudero in Senate coup
- Motive probed for US shooting that killed two children, injured 17
