In the midst of the political campaign, Senate President Vicente C. Sotto III on Wednesday, March 3 said he is agreeable to hold plenary sessions to amend the Oil Deregulation law if President Duterte calls Congress to a special session. Sotto issued this statement on appeals for Malacanang to...
As global oil prices skyrocketed to $116 per barrel because of the escalating Ukraine-Russia war, Filipino consumers will need to brace for punishing price hikes of P2.00 to P3.00 per liter at petroleum pumps next week. Despite the astronomical spikes in domestic oil prices though, the Department...
Instead of tying the hands of the next administration with a major policy shift, the government should fast-track the implementation and distribution of the P2.5-billion allocation for financial subsidy and fuel vouchers to qualified utility vehicles rather than tinker with provisions of the Oil...
Senator Sherwin Gatchalian on Thursday said he is open to a review of the Oil Deregulation Law should President Duterte calls Congress to a special session “I'm open to reviewing the Oil Deregulation Law to improve transparency among industry players and assess the benefits to our consumers,”...
House Ways and Means Committee Chairman and Albay 2nd district Rep. Joey Salceda has proposed four amendments to the much-maligned Downstream Oil Industry Deregulation Act of 1998 (Oil Deregulation Law), which he believes will mitigate the rapid increase in fuel prices. Albay 2nd District Rep. Joey...
Senatorial candidate Herbert “Bistek” Bautista on Monday said buying back Petron from San Miguel Corp. would help foster competition and provide a vehicle for subsidies which the government needs to ensure to mitigate the impact of an oil price surge as tension between Russia and Ukraine...
Malacañang said that the proposed suspension of the excise tax to address the rising price of oil in the country cannot just be implemented unless recommended by the Department of Finance (DOF) and the Development Budget Coordination Committee (DBCC). (File photo) Cabinet Secretary Karlo Nograles...
Filipino consumers will have to tighten their belts once again when it comes to their fuel budgets this week, as gasoline prices will increase by P0.90 per liter; while diesel prices will go up by P0.80 per liter. Kerosene, which is the other fuel commodity in the weekly adjustments, will also inch...
Former vice president and senatorial aspirant Jejomar Binay proposed on Monday, Feb. 28, several measures to mitigate the impact of higher fuel prices and inflation in the event of a prolonged conflict in Europe after Russia launched an attack against Ukraine on Feb. 24. Russia, considered as the...
When asked how he would respond to the economic effects of Russia’s invasion of Ukraine, labor leader and presidential candidate Leodegario “Ka Leody” De Guzman proposed the reversal of the long-maligned Oil Deregulation Law. De Guzman also condemned Russia’s ongoing attacks on Ukraine,...
The country’s economic managers — meeting last February 24 in the inter-agency Development Budget Coordination Committee (DBCC) after Russia’s invasion of Ukraine — announced the government’s readiness to provide “targeted assistance” and relief to sectors directly affected by the...
Prices at domestic pumps will rise for the ninth time this year following last week’s ascend of global oil prices to more than $100 per barrel as an upshot of Russia’s invasion of Ukraine. In the calculation of the Philippine oil companies, gasoline prices will be on uptick by P0.95 to P1.05...
