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://www.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.
Gasoline, diesel prices to increase again next week
- Israel ups pressure on Gaza City
- US approves .5M in assistance to Nigeria to help address hunger
- Macron's decision to recognize Palestinian state angers Israel and the US
- 'Strangest' dinosaur covered in spiked armory — Scientists
- Supreme Court: It’s work as usual in judiciary
- Marcos sacks PNP Chief Torre, saying it was 'difficult but necessary'
- Fire breaks out in Manila residential area
- New DPWH chief Dizon: "A department can't investigate itself"
- China 'elephant in the room' at fraught Pacific Islands summit
- India's Modi seeks closer ties on Asia tour to offset US tariff fallout
