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.
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, This news data comes from:http://wpgrvn.xs888999.com
- P270M rock shed useless – Marcos
- Marcos, first lady visit Cambodia to boost ties
- One in four people lack access to safe drinking water – UN
- Duterte’s defense team outlines ICC strategy
- Tokyo logs record 10 days of 35 C or higher
- North Korean leader inspects new missile factory ahead of visit to China
- Pagasa monitors LPA off Cavite, may still become tropical depression
- Legarda pushes Magna Carta of Waste Workers
- Head of main US health agency abruptly dismissed
- Opponents of Japan PM seek leadership contest
