The inflation-targeting Bangko Sentral ng Pilipinas (BSP) is expected to raise the policy rate by 25 basis points (bps) to 4.5 percent to confront war-driven price hikes head-on, according to investment banking giant Goldman Sachs. “Given its price stability mandate, we believe the BSP will hike...
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...
Senate President Pro Tempore Panfilo “Ping” Lacson on Tuesday, April 21 expressed support to the Department of Energy’s (DOE) move to mandate fuel price adjustments, calling it a far better move than leaving the price modifications to the oil firms. Lacson pointed this out saying such...
Camarines Sur 5th district Rep. Migz Villafuerte has echoed the call of the House Legislative Energy Action and Development (LEAD) Council to suspend for two months the collection of value-added tax (VAT) on petroleum products. Villafuerte, chairman of the House Committee on Information and...
Who says energy regulators can 't crack down on unjustified fuel price hikes under the deregulated regime? House Minority Leader and 4Ps Party-list Rep. Marcelino “Nonoy” Libanan insisted on Sunday, April 19 that the Department of Energy (DOE) and the Department of Justice (DOJ) retain...
To say that House Deputy Speaker Bacolod City lone district Rep. Albee Benitez is disappointed with the Department of Social Welfare and Development 's (DSWD) "ayuda" (aid) distribution is a huge understatement. Benitez took to his Facebook on Saturday, April 18 to give her firsthand...
President Marcos on Sunday announced a larger fuel price rollback next week, saying the reduction will bring much-needed relief to Filipino consumers. “Sa susunod po na linggo, may mas malaking bawas sa presyo ng langis (Next week, there will be a bigger reduction in oil prices),” the President...
Around P3.3 million worth of fuel subsidy will be directly downloaded to 28 groups of drivers and operators of public utility vehicles (PUVs) in Mimaropa region as part of the intervention measures amid complaints of slow distribution of cash assistance. Vigor D. Mendoza II, chairman of the Land...
The House Legislative Energy Action and Development (LEAD) Council has covered a lot of ground in terms of coming up with a wide range of legislative responses to this era of elevated fuel prices. To their credit, members of the House of Representatives actively participated in the three hearings...
Transport group Manilbela ended its three-day strike with a march to Mendiola, Manila, on Friday, April 17, renewing calls for the suspension of fuel taxes and a rollback in oil prices to ease the burden on drivers and commuters. Hundreds of jeepney drivers and operators gathered at Welcome...
While the oil-induced inflation spike in the Philippines is raising concerns, think tank Capital Economics expects the Bangko Sentral ng Pilipinas (BSP) to keep key interest rates steady for the rest of the year. In an April 15 report, Capital Economics chief emerging markets (EMs) economist...
Iran is approximately 7,000 kilometers away from the Philippines. But an ongoing war in that part of the world rattles ours almost immediately. This conflict in West Asia (or the Middle East to the Western world) has disrupted crude oil shipments to the Philippines, a country that imports about 98...
