MANILA, Philippines - Gasoline, diesel prices are expected to increase for the third consecutive week, mostly due to the escalation of attacks between Russia and Ukraine, local oil industry sources said on Friday.
They said that gasoline prices would go up by P1 to P1.20 per liter and diesel by P1.30 to P1.50 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.
Market reactions to recent global oil-related developments, specifically the damage to Russian oil processing facilities by Ukrainian attacks, US imposition of new sanctions on Iran’s oil revenue stream and Saudi Aramco and the halt to exports to India’s refinery by Iraq’s state oil marketer SOMO were cited as the reasons for the new round of increases.
Gasoline, diesel prices to increase by P1 next week, This news data comes from:http://www.705-888.com
This week, local oil companies implemented increases in gasoline and diesel by P0.70 per liter and P1 per liter respectively.
- Appointments panel holds first session
- Marcos declares holidays for 2026
- China is showing off its weaponry in a tightly controlled military parade
- Marcos 'ready' to undergo lifestyle check- Palace
- Senate subpoenas 8 DPWH officials, contractors in flood control probe
- PH Defense chief slammed for 'bad mouthing' China
- Japanese volunteers to PH 'bedrock' of bilateral relations, says envoy
- HEADLINES: Lacson: DPWH exec sought ‘insertions’ | Sept. 8, 2025
- Earthquake in eastern Afghanistan kills at least 610 people and injures 1,300
- ‘40% of Filipinos obese’
