NEW YORK (AP) — Oil prices rose in early trading Sunday as a standoff between Iran and the U.S. prevented tankers from using the Strait of Hormuz, the Persian Gulf waterway that is crucial to global energy supplies. The price of U.S. crude oil increased 6.4% to $87.88 per barrel after trading...
With Iran announcing the reopening of the Strait of Hormuz and a possible war deal finally taking shape, the Philippine government’s so-called “energy emergency response” now appears to be a dithering strategy. It looks more like the state sprinted into a trap door—akin to buying a fire...
High energy prices and persistent geopolitical instability are poised to deepen the Philippines’ external imbalances, heightening depreciation risks for an already fragile peso, according to analysts at Dutch financial giant ING ING wrote in its latest report, published last Friday night, that it...
Private sector economists are split over whether the Bangko Sentral ng Pilipinas (BSP) will raise interest rates this week, as the need to anchor inflation expectations and defend the peso battles concerns over the fragile economic recovery. Of 10 economists surveyed, five expect a 25-basis-point...
The Department of Social Welfare and Development (DSWD) has extended assistance to the family of a motorcycle taxi driver who collapsed and later died while waiting in line for a special payout for drivers in Quezon City on Saturday, April 18. The payout at the Quezon Memorial Circle (QMC) forms...
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...
A rider died while waiting in line to receive P5,000 in fuel subsidy from the Department of Social Welfare and Development (DSWD) at the Quezon Memorial Circle in Quezon City on April 18, the agency confirmed. The fuel assistance program drew a large number of applicants, with long queues forming...
The Department of Social Welfare and Development (DSWD) clarified that beneficiaries of its cash relief assistance for public utility vehicle (PUV) drivers are not required to secure any certification from the Commission on Elections (Comelec), amid circulating claims linking such a requirement to...
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...
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...
