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://771bg.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.
- Zelenskyy seeks talks with Trump and European leaders on slow progress of peace efforts with Russia
- House holds budget review with 21 civil society organizations
- Majority of Filipinos unaware of vote buying in 2025 elections, OCTA survey shows
- No winner in Ultra, Megalotto draws for Aug 29
- Transport chief pushes shame campaign vs errant motorists
- North Korea's Kim in China ahead of massive military parade
- Taiwan: China illegally deploying oil rigs in our waters
- Pagasa sees cyclone-free week across PH
- Xi meets Modi as China and India seek to rebuild ties
- Sen. Go calls for round-the-clock DFA support for OFWs welfare
