The Department of Energy (DOE) said that consumers can expect a potential gasoline price rollback next week, while diesel prices are likely to increase. Rino Abad, DOE Oil Industry Management Bureau (OIMB) directo said these contrasting movements are due to various economic factors. ...
As inflation slid to its lowest level in four years, the Philippines' chief economist is looking forward to more Filipinos lifted out of poverty. "With inflation dropping from its high levels last year and early this year, together with the continuing robust labor market, we expect poverty to...
The rate of increase in consumer prices likely slowed to its lowest level since October 2020, with forecasts indicating a decline to 2.5 percent for September, from 3.3 percent in August. Stefan Angrick, Moody’s Analytics senior economist, explained that the significant decrease in inflation is...
Motorists will have a frustrating drive to the petroleum service stations this week as they will be greeted with diesel prices rising by P0.90 per liter; while diesel prices will be going up by P0.45 per liter. Kerosene, which is their cousin in the weekly triumvirate of price adjustments, will...
The squeeze on consumers’ pockets at the pumps will be leaner after all as global oil prices suddenly crashed at end-week trading on Friday (September 27), according to the oil companies. The industry players estimated that gasoline price increase had softened to P0.10 to P0.50 per liter,...
Inflation likely further slid to 2.9 percent in September as oil and rice price hikes eased, according to Dutch financial giant ING. "The Philippines' small decline in rice prices in September and lower transport fuel prices will have been offset by increases in fruits and vegetables and some other...
ACT-CIS Party-list Rep. Erwin Tulfo (leftmost), House Speaker Martin Romualdez (Speaker’s office) House Speaker Martin Romualdez has told the importers of the 523 containers full of rice stored at the Bureau of Customs -Manila International...
Consumers are under new threat of financial drain next week as pump prices are seen rising again by a significant proportion, based on the estimates of the oil companies. According to the industry players, the price of gasoline products will potentially go up by P0.65 to P1.05 per liter; while...
Inflation in the Philippines is expected by the Asian Development Bank (ADB) to further ease as reduced import tariffs on staple rice and other food products spill over to domestic retail prices, boosting consumption and overall economic growth. The Manila-based ADB's Asian Development Outlook...
Citing current trends in Southeast Asia, President Marcos expressed optimism that rice prices in the country would ease further. President Ferdinand 'Bongbong' Marcos Jr. (Photo courtesy of Malacañang) Malacañang said Marcos made the statement during a sectoral meeting on managing food and...
A new cascade of financial pressure will be on consumers’ pockets this week as gasoline prices will be rising by P1.10 per liter; while diesel prices will go up by a marginal P0.20 per liter. Propitiously for kerosene products, there will be no cost movement this week, based on the pricing...
It is high time for Congress to pass a law institutionalizing transparency in the movements of petroleum prices to ensure the protection of rights and welfare of consumers. Sen. Sherwin Gatchalian made the call following the recent decision of the Supreme Court upholding the Court of...
