Motorists face a sharp reversal in fuel pricing next week as escalating geopolitical tensions in the Middle East disrupt a brief period of relief at the pump. Based on the first three-day trading average Mean of Platts Singapore (MOPS), diesel could halt its double-digit rollback by increasing its...
The Department of Energy (DOE) is working to minimize the risks of price shocks in off-grid areas through coordination with other government agencies and state-run firms in the energy sector. According to Energy Secretary Sharon Garin, the DOE is actively coordinating with the National...
The Marcos administration is halting government-led fuel imports for May as national storage facilities approach their limit, energy officials said on Monday, April 27. The Department of Energy (DOE) will pause new procurement following the arrival of 900,000 barrels of diesel this month,...
Tensions in the Middle East are threatening to derail a cooling trend in global energy markets, as fresh supply disruptions at critical chokepoints signal a potential return to volatility for Filipino consumers. While initial trading early in the week pointed toward significant relief at the pump,...
Diesel prices are set for another substantial reduction next week as regional benchmarks retreat, though renewed Middle Eastern volatility threatens to stall the downward momentum in gasoline prices. Based on the first three days of trading for the Mean of Platts Singapore (MOPS), the regional...
Fuel retailers are on track to extend their streak of price rollbacks next week, though the pace of the decline is projected to moderate amid tightening regulatory environment and persistent Middle East volatility. Based on the first two days of trading for the Mean of Platts Singapore (MOPS), the...
President Marcos convened the fourth meeting of the UPLIFT Committee on Tuesday, April 21, but there is no word yet on the fate of the excise tax on diesel and gasoline. Palace Press Officer and Communications Undersecretary Claire Castro said the matter was not discussed during the meeting. "Hindi...
Fuel retailers are set to implement a second consecutive week of price reductions on Tuesday, April 21, following the government mandate aimed at shielding consumers from the impact of volatile global energy markets and heightened tensions in the Middle East. Shell Pilipinas Corp. and Seaoil...
Motorists are set for the largest relief at the pump this year as breakthrough in Middle Eastern peace talks and the reopening of the Strait of Hormuz, a vital shipping lane, send global oil prices tumbling. Local diesel prices are projected to plunge by as much as ₱26.50 per liter, while...
Oil prices are on track for a significant retreat next week as fragile geopolitical detente in the Middle East erodes the war risk premiums that have kept global benchmarks elevated. Based on the four-day trading average of the Mean of Platts Singapore (MOPS), the industry’s regional pricing...
Caloocan City 2nd district Rep. Edgar "Egay" Erice has filed a measure that would limit prices of diesel to a maximum of ₱70 per liter, as part of possible legislative responses to elevated pump fuel prices in the country. Dubbed as the proposed Diesel Cap Act, the measure was patterned after...
Is President Marcos being fed the wrong information by his economic managers, resulting to the delay in the suspension of the excise tax on diesel and gasoline? House Legislative Energy Action Development (LEAD) Council presiding officer, Marikina City 2nd district Rep. Miro Quimbo; and Deputy...
