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.
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.
Gasoline, diesel prices to increase again next week, This news data comes from:http://www.redcanaco.com
This week, local oil companies increased their gasoline prices by P0.70 per liter, and their diesel prices by P0.50 per liter.
- Marcos confers diplomatic merit award on two ambassadors
- Court rules on subdivision open spaces, road lots
- Vietnam evacuates thousands ahead of Typhoon Kajiki
- Heavy rains flood parts of Metro Manila anew
- Trump says he wants to meet North Korea's Kim again
- Duterte Youth brings Comelec cancelation battle to Supreme Court
- Japan govt seeks to triple spending on drones
- Manila Water announces service disruption for over 12K households in Mandaluyong due to leak repair
- Comelec delays implementation of decision disqualifying Duterte Youth Party-List
- 2 Marikina policemen accused of molestation
