US President Joe Biden (Xinhua) WASHINGTON, United States -- US President Joe Biden on Thursday announced that his administration will release 1 million barrels of oil per day for the next six months from its strategic reserve in an effort to tame the elevated gas prices. The authorization of...
Presidential aspirant Vice President Leni Robredo on Thursday, March 31, went around Lanao del Norte carrying a message of maintaining the peace and order in Lanao del Norte because this will pave the way for more investments and jobs. Vice President Leni Robredo (VPLR Media Bureau) Robredo began...
Senator Sherwin Gatchalian on Thursday called on concerned government agencies anew to ramp up the distribution of fuel subsidy under the Pantawid Pasada Program to targeted beneficiaries as oil companies impose a new round of fuel price hike this week. Gatchalian noted it is already the end of...
The country’s oil companies have implemented higher than the earlier calculated price hikes mainly due to premium charges and escalating freight costs for their imported products, according to the Department of Energy (DOE). In pricing adjustment advisories sent to the media, oil companies...
JEDDAH, Saudi Arabia -- A Yemeni rebel attack on a Saudi oil plant set off a huge fire near Jeddah's Formula One circuit during televised practice sessions on Friday, part of a wave of assaults on Aramco facilities. Smoke billowed near the circuit and the second practice was delayed in the attack,...
After just a week of rollback, prices at domestic petroleum pumps will be on hefty upticks again by Tuesday, March 29, due to renewed cost upswings in the world market. Based on estimates of the oil companies, diesel prices will climb by as much as P7.95 to P8.15 per liter while kerosene prices...
Former senator Joseph Victor “JV” Ejercito on Friday renewed his call for the government to suspend the excise tax on fuel to mitigate the ongoing global crisis on petroleum products brought about by the conflict between Ukraine and Russia. Ejercito said it’s imperative for the government to...
Senator Grace Poe is still not satisfied with the government's move to increase the monthly subsidy to poor Filipino families from P200 to P500 by saying it "may look better on its face but there's a catch." Poe in a statement Thursday expressed concern that from the earlier promised year-long...
Senatorial candidate Herbert “Bistek” Bautista on Thursday said he supports the call for Congress to review the country’s oil price mechanism, noting how prices of fuel are being defined especially in the oil industry. Bautista made the call amid threats of more price increases as a result of...
ACE Enexor Inc., the oil and gas investment platform of the Ayala group, will be undertaking a follow-on offering (FOO) for 74,000,000 shares to be priced at P10 to P11.84 per share. The company has secured the go-signal of its board this week on “the appointment of the transaction advisors...
Consumer should brace themselves for further acceleration in prices as the Philippines continues to face inflationary pressures from both food and non-food items, the Department of Finance (DOF) said. Finance Chief Economist Gil S. Beltran said effects of the African swine fever (ASF) continues to...
Filipino motorists can finally heave a sigh of relief after roughly three months in financial squeeze at the pumps as diesel prices will be on rollback by P11.45 per liter and gasoline prices will also be cut by P5.45 per liter. At the same time, the price of kerosene products will be slashed by...
