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...
Petroleum prices may return to normal within six months to one year as the United States (US) and Iran move closer to a deal that could end the war in the Middle East, according to the Department of Energy (DOE). Energy Secretary Sharon Garin announced on Monday, June 15, a maximum price rollback...
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...
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...
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...
Fuel prices are set to tumble, offering motorists major reprieve after weeks of escalating costs driven by geopolitical frictions. The Department of Energy prescribed a minimum rollback effective Tuesday, June 2, reducing diesel by ₱9.26 per liter, gasoline by ₱4.76 per liter, and kerosene by...
Lower-income households will need to cough up an additional ₱490 in monthly rice spending due to higher fertilizer prices and their impact on retail prices, according to the Congressional Policy and Budget Research Department (CPBRD). Under a conservative lower-bound scenario, the House of...
Consumers are poised for much-needed relief at the pump next week as global oil benchmarks edge lower on rising optimism surrounding a potential 60-day ceasefire between the United States (US) and Iran, which could lead to the reopening of the critical Strait of Hormuz. Based on the four-day Mean...
Motorists will need to brace for another round of over-a-peso fuel price hikes this week following the recent uptick in demand and the gradual easing of geopolitical tensions. According to the Department of Energy (DOE), gasoline will have a maximum price increase of up to ₱1.60 per liter, diesel...
Local hog producers warned that the government’s plan to enforce a price ceiling on liempo or pork belly could further strain domestic production at a time when farmgate prices are already depressed while input costs are at their highest. Pork Producers Federation of the Philippines Inc....
The Department of Trade and Industry (DTI) is optimistic that it will secure commitments from major manufacturers to hold off on price adjustments for the coming month, even as some companies are already pushing for hikes amid rising logistics costs. The DTI earlier reached a deal with makers of...
The Department of Agriculture (DA) is preparing to implement a nationwide suggested retail price (SRP) of ₱53 per kilo for local rice as part of ongoing efforts to keep prices of the staple at a reasonable level. Agriculture Secretary Francisco Tiu Laurel said in a statement on Tuesday, May...
