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.
Gasoline, diesel prices to increase again next week
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., This news data comes from:http://nfbybnb.gyglfs.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 expresses support for ‘beleaguered’ Cabinet members
- DOJ indicts Abra Mining for fraudulent trading
- Public Works chief to press criminal charges against Bulacan engineer
- Marcos soon to create commission to probe flood control projects
- DPWH exec asked lawmaker to make budget insertions — Lacson
- China's Communist rulers push party role before World War II anniversary
- Heavy rain causes flooding, landslides and 8 deaths in Vietnam and Thailand
- One in four people lack access to safe drinking water – UN
- DPWH exec fired, 2 others face dismissal over flood control mess
- US church shooter 'obsessed with idea of killing children'
