Consumers’ pockets can finally gain substantial relief next week, as petroleum products at the pumps will be on massive rollback, according to the oil companies. Based on the industry’s calculations as anchored on the Mean of Platts Singapore (MOPS), diesel prices will be reduced by as much as...
Senator Ronald “Bato” dela Rosa on Thursday, July 7 expressed his belief it is high-time that the government should also prioritize coming up with a cash subsidy scheme for low to medium income class workers who are also reeling from the impact of the Covid-19 pandemic, series of oil price...
Senator Grace Poe has refiled her bill seeking to provide for the automatic suspension of excise tax on gasoline and diesel. The suspension will take effect when the average Dubai crude oil price based on the Mean of Platts Singapore (MOPs) exceeds $80 per barrel over a three-month period. Earlier,...
Consumers will gain breathing space in their pockets this week, as the price of diesel products will be on rollback by P3.00 per liter, while kerosene prices will be reduced by P3.40 per liter, according to the oil companies. For gasoline, there is no cost movement this week, as industry players...
Finally, there would be temporary relief in the pockets of Filipino consumers next week as diesel and kerosene prices are expected to have big-time rollback of roughly P3.00 per liter, according to calculation by the oil companies. Estimates from the outcome of last week’s trading based on the...
Senator-elect Robinhood Padilla wants the Philippines to start drilling for oil and gas in the West Philippine Sea (WPS) as the country continues to reel from unabated price increases of oil products caused by external factors. Padilla, topnotcher in the May 2022 senatorial race, made the...
Outgoing Senator Panfilo M. Lacson has sought a conditional suspension of the excise tax on fuel, and the scrapping of several lines of exemption in the Value-Added Tax (VAT). Lacson said this two-pronged formula could give Filipinos some badly needed breathing room from the effects of prohibitive...
This week’s adjustment in pump prices have been way higher than initially-calculated due to market premiums and hike in freight costs, according to the Department of Energy. Oil companies have implemented higher increases of P1.65 per liter for diesel and P0.10 per liter for kerosene, effective...
COLOMBO, Sri Lanka -- Cash-strapped Sri Lanka on Sunday announced sending ministers to Russia and Qatar to try and secure cheap oil a day after the government said it had all but run out of fuel. Motorists queue along a street to buy fuel at a Ceylon petroleum corporation fuel station in Pugoda,...
Price adjustments at the oil pumps next week will continue for diesel and kerosene, but it could be mixed adjustments for gasoline, based on the calculation of the oil companies. Industry players estimated that diesel prices will increase by P1.05 to P1.20 per liter while kerosene will go up by...
President Duterte has ordered the termination of oil and gas discussions with China in the West Philippine Sea, outgoing Foreign Affairs Secretary Teodoro Locsin Jr. revealed. West Philippine Sea (FILE PHOTO FROM AFP) "The President had spoken. I carried out his instructions to the letter: oil and...
Senator Imee Marcos on Tuesday, June 21, asked the Department of Energy (DOE) for its proposal to help sectors badly affected by the increasing fuel prices. Senator Imee Marcos (Senate of the Philippines) Marcos, chairwoman of the Senate economic affairs committee, said the proposal for nuclear...
