Fuel retailers are set to implement a second consecutive week of price reductions on Tuesday, April 21, following the government mandate aimed at shielding consumers from the impact of volatile global energy markets and heightened tensions in the Middle East. Shell Pilipinas Corp. and Seaoil...
Motorists are set for the largest relief at the pump this year as breakthrough in Middle Eastern peace talks and the reopening of the Strait of Hormuz, a vital shipping lane, send global oil prices tumbling. Local diesel prices are projected to plunge by as much as ₱26.50 per liter, while...
Oil prices are on track for a significant retreat next week as fragile geopolitical detente in the Middle East erodes the war risk premiums that have kept global benchmarks elevated. Based on the four-day trading average of the Mean of Platts Singapore (MOPS), the industry’s regional pricing...
Caloocan City 2nd district Rep. Edgar "Egay" Erice has filed a measure that would limit prices of diesel to a maximum of ₱70 per liter, as part of possible legislative responses to elevated pump fuel prices in the country. Dubbed as the proposed Diesel Cap Act, the measure was patterned after...
Is President Marcos being fed the wrong information by his economic managers, resulting to the delay in the suspension of the excise tax on diesel and gasoline? House Legislative Energy Action Development (LEAD) Council presiding officer, Marikina City 2nd district Rep. Miro Quimbo; and Deputy...
The Marcos administration is moving to shore up the country’s depleted cooking fuel reserves as geopolitical volatility threatens energy security, with the government securing its first major import of liquefied petroleum gas (LPG) in months. The Department of Energy (DOE) authorized the purchase...
Senator Loren Legarda called for the immediate suspension of fuel excise tax and value-added tax (VAT) on diesel and gasoline, even as she criticized the slow government response to elevated fuel prices. This follows the April 13, press conference of President Marcos, where he announced the...
Senator Imee Marcos rued her brother, President Marcos ' decision not to include diesel in the short list of petroleum products covered by excise tax suspension. "Nagtanggal nga sila ng excise tax pero hindi pa nila isinama ang diesel na siyang numero unong ginagamit ng ating mga driver,...
Why were gasoline and diesel not part of the excise tax suspension on petroleum products on Monday, April 13? President Marcos said these will be discussed during a meeting with the UPLIFT Committee on Tuesday. "That 's to be discussed tomorrow," he said when asked in a press briefing,...
After a series of pump price hikes, motorists are finally set to experience the first rollbacks of the year, potentially putting an end to recent big-time increases caused by global oil shocks amid the war in the Middle East. Effective Tuesday, April 14, Shell Pilipinas will cut its diesel prices...
Local manufacturers are expected to see immediate relief from high operating costs as diesel prices are projected to drop by nearly ₱21 per liter following consecutive weeks of price hikes, according to the Federation of Philippine Industries (FPI). In a statement on Monday, April 13, FPI said...
As part of its efforts to secure 900,000 barrels of diesel in April, the Department of Energy (DOE) announced the arrival of the second government-secured diesel shipment under its Emergency Energy Security Program, consisting of 329,000 barrels from Malaysia. The shipment, which equates to 52.311...
