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.
Gasoline, diesel prices to increase again next week, This news data comes from:http://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.
- Red Cross head says mass evacuation of Gaza City 'impossible'
- Malacañang calls plot to jail VP Duterte 'wild imagination'
- Pagasa monitors 2 LPAs inside PAR; prevailing 'habagat' brings rain across PH
- NBI slaps Alice Guo, 35 Others with new graft, misconduct cases
- Japan PM decides to quit as opponents seek leadership election
- Palace hits Discayas over ‘misinformation’ on PH film center project
- DILG denies claims ex-PNP chief ousted over firearms purchase
- Lawyer seeks Duterte's return to Philippines, cites 'deteriorating health'
- Undersea cables cut in the Red Sea, disrupting internet access in Asia and the Mideast
- Indonesian police officer fired over killing that sparked protests
