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
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://bpcnhum.771bg.com
This week, local oil companies increased their gasoline prices by P0.70 per liter, and their diesel prices by P0.50 per liter.
- Philippine forces deliver supplies and personnel to disputed South China Sea shoal despite tensions
- SC acquits suspect in 2012 killing of Dutch aid worker over doubtful testimonies
- Follow the trucks: Why investors are looking south of Metro Manila
- Inoue says taunts 'missed the target' ahead of world title clash
- Aftershocks rumble quake-hit Afghanistan as death toll tops 1,400
- EU massive fine against Google draws Trump threat
- Trump rebrands Department of Defense as 'Department of War'
- Escudero subpoenaes 10 DPWH contractors for Senate probe next week
- Palace rejects China's 'troublemaker' tag
- New mining law to balance profit, ecology
