MANILA, Philippines — Gasoline and diesel prices are projected to increase for the seventh consecutive week, as tensions between the US and Iran continue to influence global oil market prices, local oil industry sources said on Friday.
They said that gasoline prices would jump by around P1.40 to P1.60 per liter and diesel by about 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 oil companies implemented an increase of P0.60 per liter for gasoline and P1.20 per liter for diesel this week.
