Motorists are on track for major relief at the pumps next week, with diesel prices poised to plunge by up to ₱9.5 per liter and gasoline by up to ₱5.00 per liter as global oil markets cool down. Based on the four-day trading average of the Mean of Platts Singapore (MOPS), the regional...
Local pump prices are on track for a big-time rollback next week, with diesel projected to drop by up to ₱9 per liter and gasoline by ₱5 due to the United States (US)-Iran peace deal, which will reopen the Strait of Hormuz, a critical global oil route. Based on the first three days of...
EVIAN-LES-BAINS, France (AP) — The United States could soon reimpose sanctions on Russian oil shipments after President Donald Trump and fellow leaders at the Group of Seven summit of major industrialized democracies moved Tuesday to put the war in Ukraine back on top of their agenda, more than...
The oil spill caused by a cargo vessel that ran aground in the sea of Badoc, Ilocos Norte has been successfully contained through the coordinated efforts of government agencies, local authorities, and community volunteers, the Philippine Coast Guard (PCG) reported. Ensign Aeron Paul Sotiangco,...
NEW YORK — High oil and gasoline prices and energy supply problems won’t be solved overnight, despite an agreement to end the Iran war and open the Strait of Hormuz announced Sunday. It will likely take months before energy companies can resume operations to the point of meeting the world’s...
LONDON (AP) — Armed British forces boarded and detained a sanctioned tanker Sunday that is suspected of being part of the Russian "shadow fleet," shipping oil in violation of international sanctions over Moscow 's war on Ukraine, British Prime Minister Keir Starmer said Sunday. Royal Marine...
The Washington-based International Monetary Fund (IMF) said it stands ready to deploy support to the Philippines should it request assistance during the ongoing Middle East war, assuring close engagement with local authorities through surveillance and policy advice. This remained the IMF’s...
Looming price hike in gasoline will pinch drivers next week, though diesel motorists will see some relief from an expected price rollback. Based on the first four days of regional commodity trading, retail diesel prices are projected to drop by ₱3.5 to ₱4 per liter next week, according to...
Despite signs that oil prices were returning to pre-conflict levels last week, motorists may need to ease off the gas pedal again due to another round of price hikes. Seaoil Philippines Inc. announced on Monday, June 8, that diesel prices will increase by ₱5.77 per liter this week, while gasoline...
As the proposed Philippine Strategic Petroleum Reserve (PSPR) takes shape, consumers must keep a close eye on the government and their hands firmly on their wallets. While the country may need an oil stockpile, taxpayers and motorists should not end up becoming the reserve’s permanent source of...
Renewed friction in the Middle East is set to hit transport networks next week with the projected spike in diesel prices, even as localized inventory buffers hand gasoline users the second straight weekly rollback. Based on the four-day average of the Mean of Platts Singapore (MOPS), the regional...
Traffic along Epifanio de los Santos Avenue (EDSA) northbound in Quezon City slowed on Friday morning, June 5, after an oil tanker struck concrete barriers at the Quezon Avenue flyover. The Metropolitan Manila Development Authority (MMDA) said the incident occurred at around 5:26 a.m. when the...
