Global supply concerns, including an unexpected drop in United States (US) crude inventories and the lingering effects of sanctions on Russia, are set to drive up diesel and kerosene prices next week, while gasoline costs may see a modest decrease. Based on the four-day Mean of Platts Singapore...
Driven by rising demand and tightening supply, oil prices are expected to rise again next week. Based on the four-day Mean of Platts Singapore (MOPS) and the forex average, gasoline could go up somewhere between ₱0.30 and ₱0.50 per liter, while diesel may increase by ₱0.70 to ₱0.90 per...
Motorists will need to tighten their belts for another round of increased prices at the gas pumps. Effective Tuesday, July 15, gasoline will go up by ₱0.70 per liter, and kerosene will rise by ₱0.80 per liter. Diesel is also seen to climb by ₱1.40 per liter. Shell, Seaoil, CleanFuel,...
After two consecutive weeks of rollbacks, fuel prices are set to increase next week, driven by concerns over global supply and demand. Based on four-day trading in the Mean of Platts Singapore (MOPS), gasoline could rise by ₱0.50 to ₱0.80 per liter, while diesel may see an increase of ₱0.60...
Pump prices are expected to drop next week, by as much as one peso for gasoline, as benchmark oil prices decline with the easing of tension in the Middle East, as well as prospects of higher output from the Organization of Petroleum Exporting Countries (OPEC) cartel. According to Director Rino E....
After a week marked by two phases of price increases, motorists can finally expect a reprieve at the pump as oil prices are set to drop in the first week of July. Effective Tuesday, July 1, the price of gasoline will decrease by ₱1.40 per liter, while diesel will decrease by ₱1.80 per liter....
Despite the reported ceasefire between Israel and Iran, Sen. Raffy Tulfo reminded the Department of Transportation (DOTr) to still continue monitoring the average price of the Dubai crude oil to ensure that the fuel subsidy for PUV drivers and riders will be promptly distributed once its price has...
After a week of staggered price hikes at the gas pumps, fuel prices are expected to ease by the first week of July. Based on the four-day trading Mean of Platts Singapore (MOPS), gasoline is expected to go down by ₱1 to ₱1.40 per liter, while diesel may see a rollback of around ₱1.60 to...
The Department of Trade and Industry (DTI) said prices of basic necessities and prime commodities remain stable despite the recent surge in fuel prices. In a statement, the DTI said it is actively working with local manufacturers to maintain the current prices of goods despite a hike in fuel prices...
Senate President Francis “Chiz” Escudero is considering filing a bill that would grant standby authority to the Department of Finance (DOF) or the President to temporarily reduce oil taxes in response to global fuel price spikes triggered by geopolitical crises, such as the ongoing Iran-Israel...
Ride-hailing company Grab Philippines is rolling out a nationwide fuel discount program aimed at cushioning the impact of rising fuel costs on drivers and motorcycle taxi riders. In a statement on Wednesday, June 25, the company announced the launch of a fuel resilience package specifically...
NEW YORK — If oil prices are any measure, Iran just flinched. The price of oil tumbled Monday afternoon in an historical move as traders bet that Iran’s decision to bomb a U.S. base in Qatar signals it is not planning to do the one thing that could really hurt America: Shut down the flow of oil...
