Due to an urgent need to stabilize the country’s oil supply and curb escalating fuel prices, the Bureau of Customs (BOC) is bypassing standard procedures, directing all district collectors to fast-track processes related to the state’s emergency importations. This follows the emergency mandate...
The government is opening the Bicol Shelf Basin to private investors for oil and gas exploration, a move intended to bolster indigenous energy resources as the country seeks to reduce its reliance on volatile global fuel markets. The Department of Energy (DOE) on Wednesday, April 1, announced a...
While there is no specific provision calling for immediate economic relief for the middle class families is stated in the report, Sen. Sherwin Gatchalian said the suspension of the excise tax, as well as the possibility of suspending the value added tax (VAT) may benefit all households. Gatchalian...
Motorists may face sharp spike in fuel costs as international supply anxieties push domestic pump prices toward record highs, prompting the government to issue emergency anti-hoarding directives to protect the local market. Based on the first two-day estimates in the Mean of Platts Singapore...
The Marcos administration has secured commitments from five nations to bolster its fuel inventory, with the Department of Energy (DOE) preparing to import more than one million barrels of diesel this April to shield the economy from global market volatility. In a briefing late Monday, March 30,...
After 11 weeks of price spikes, gasoline will see no adjustment in its current prices, while diesel and kerosene will remain elevated moving into April. Effective Tuesday, March 31, diesel will rise by ₱12.50 per liter, while kerosene will increase by ₱2 per liter. Seaoil, Shell Pilipinas, and...
For Filipino consumers, it is a crippling puzzle: why are we hammered with over 100 percent cumulative oil price hikes while the rest of the world experiences only 40 percent to 60 percent increases for the same black gold? The answer is a toxic mix of heavy taxes, high import dependence, global...
It 's high time the state-owned Philippine National Oil Co. (PNOC) invested in critical coastal petroleum storage facilities--something that the country could have immensely benefited from amid the current global fuel crisis. Thus, said House Minority Leader 4Ps Party-list Rep. Marcelino...
The 142,000 barrels (approximately 22.578 million liters) of diesel fuel scheduled to be formally received by Energy Secretary Sharon Garin this weekend will be unloaded at the bulk storage facility of independent player Seaoil Philippines in Mabini, Batangas, a government source privy to the...
Fuel prices are expected to offer a slight reprieve to motorists next week following a period of aggressive “big time” hikes, as easing geopolitical tensions in the Middle East begin to cool global energy benchmarks. According to industry data based on the four-day trading Mean of Platts...
The House of Representatives needs to look into the outrageous prices of diesel in the Philippines, which according to a lawmaker is outpacing those other countries in Asia. Making this call for a House inquiry on Thursday, March 26 was Senior Citizens Party-list Rep. Rodolfo "Ompong" Ordanes, who...
The government received its initial shipment of imported diesel on Thursday, March 26, marking the start of a state-led effort to stabilize domestic fuel stocks and insulate the economy from global price volatility. The Department of Energy said the agency took delivery of approximately 22,578,000...
