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://www.jyxingfa.com
- DFA: No US extradition request for Quiboloy
- Vico encourages citizens on Heroes’ Day to be brave
- 'Large shark' kills man off Sydney beach
- Oil firms to raise fuel prices this week
- First millennial saint: Vatican to canonize 'God's Influencer' Carlo Acutis
- House panel defers 2026 DPWH budget until agency submit changes
- Zelenskyy meets European leaders on Ukraine security guarantees
- 15 people hospitalized after double-decker bus crashes outside London's Victoria Station
- SC clarifies rules on land ownership
- What to know about Indonesia's nationwide unrest over lawmakers' perks
