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, This news data comes from:http://cbg.redcanaco.com
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.
- Fire breaks out in Manila residential area
- Pakistanis no reprieve from floods yet
- Floods kill over 30 in Indian-controlled Kashmir, displace 150,000 in east Pakistan
- Actress Angel Aquino victim of 'deepfake,' seeks prosecution of perpetrators of cyber pornography
- MMDA unveils plan to build rainwater impounding facilities in Camp Aguinaldo
- Pagasa sees cyclone-free week across PH
- SpaceX scrubs latest Starship launch due to bad weather
- Marcos lauds Filipinos for role in nation building on National Heroes Day
- Need to pee? Japan has QR code for that
- Oil firms to raise fuel prices this week
