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 week, local oil companies increased their gasoline prices by P0.70 per liter, and their diesel prices by P0.50 per liter., This news data comes from:http://www.052298.com
- Mob burns Nigerian woman to death over Islam blasphemy claim — police
- Putin and Modi in China for summit hosted by Xi
- Famed streetcar in Lisbon, Portugal, derails and crashes, killing 15 people
- Tourists dice with danger on Hanoi's train street
- Eala kicks off US Open campaign, aims for breakthrough win in New York
- Trump to blacklist countries for imprisoning Americans
- PH, Australia eye stronger defense partnership
- 13 massage therapists robbed, 2 cry rape
- SKorea’s Lee in Tokyo to show friendship
- Customs finds only 2 luxury cars at contractor's compound in Pasig
