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.
Gasoline, diesel prices to increase again next week, This news data comes from:http://nex-lkff-nx-kv.redcanaco.com
- Two dead as strong earthquake jolts Afghanistan
- Xi says China 'unstoppable' in parade opening speech
- Students, faculty file complaint against Universidad de Manila president
- UK's mass facial-recognition roll-out alarms rights groups
- Filipino fulfills dream of performing with K-pop group before home fans
- Pakistanis no reprieve from floods yet
- Napolcom welcomes Nartatez’s move to recall Torre’s reassignments
- Tensions soar in Indonesia as protests over police brutality and lawmakers' allowances continue
- Trump health misinformation swirls despite denial
- Modi, Ishiba agree to boost economic ties
