President Marcos bared that the discussions on joint oil and gas exploration with China have "moved forward" and are "making progress." Stressing the urgent need to diversify the country 's oil sources amid the Middle East crisis, Marcos said the country needs to explore its options and take...
DAVAO CITY – A Davao City councilor is urging Congress to enact legislation that will re-establish the Oil Price Stabilization Fund (OPSF) to help cushion the impact of fluctuations in fuel prices on Filipino consumers and key economic sectors . In a resolution, Councilor Danilo Dayanghirang,...
Fuel price rollbacks may come to an end next week, as global market forecasts point to potential price hikes. Based on the four-day Mean of Platts Singapore (MOPS) trading average, diesel prices could increase by ₱3.75 to ₱4.25 per liter, while gasoline prices could rise by ₱2.50 to ₱3.00...
BEIRUT (AP) — Oil leaking from a tanker grounded off the coast of Oman is not only endangering a nearby island but has now also reached beaches on the Gulf Arab country 's mainland, to the north of the island, Oman’s environment authority said Wednesday. Crude oil has been leaking from...
Flag carrier Philippine Airlines (PAL) swung to a net loss in the first half of the year as escalation in Middle East geopolitical conflict pushed jet fuel expenses sharply higher, overwhelming steady top-line growth and disciplined non-fuel spending. PAL’s parent firm PAL Holdings Inc. reported...
Motorists and businesses are set to receive relief this week as local retail fuel prices record significant declines, driven by lower international benchmark costs and a stronger local currency. Effective Aug. 11, local pump prices for gasoline will decline by ₱4.70 per liter, diesel by ₱4.30...
Motorists are on track for a second consecutive week of relief at the pump, with local fuel prices projected to fall by as much as ₱5 per liter as diplomatic movements in the Middle East pull down global crude benchmark rates. Based on four-day trading averages from the Mean of Platts Singapore...
Malacañang said that the P12-per-liter fuel discount for public utility vehicle (PUV) drivers will continue as long as the transport sector needs government assistance amid the impact of higher fuel prices. In a press briefing on Thursday, Aug. 6, Presidential Communications Office (PCO)...
The government will increase the fuel discount for jeepney and UV Express drivers to P12 per liter starting Aug. 15 as part of efforts to cushion the transport sector from the impact of tensions in the Middle East, Malacañang announced. The higher discount, ordered by President Marcos, will allow...
Eligible beneficiaries of the government 's Unified Package for Livelihoods, Industry, Food, and Transport (UPLIFT) Assistance do not need to apply to receive the cash subsidy, the Department of Social Welfare and Development (DSWD) said. DSWD Assistant Secretary and spokesperson Irene Dumlao...
PXP Energy Corp., the upstream oil and gas explorer led by billionaire Manuel V. Pangilinan, is seeking foreign partners to help fund and execute energy exploration projects in the Philippines, including a search for naturally occurring hydrogen. In an ambush interview last week, Pangilinan said...
Retail pump prices are poised to drop during the first week of August following consecutive weeks of steep price hikes. Based on four-day trading data from the Mean of Platts Singapore—the regional benchmark for refined petroleum products—gasoline prices could decline by ₱1 to ₱1.5 per...
