Filipino consumers will brace for a "crucifying" historic "price shocks" next week as diesel prices will surge by P11.75 to P11.95 per liter while gasoline prices will equally be on astronomical rise of P7.10 to P7.30 per liter for RON95 gasoline; and P6.85 to P7.00 per liter for RON92 gasoline....
RIYADH, Saudi Arabia – A drone attack on an oil refinery in the Saudi capital caused a small fire but no disruption to supplies, officials said Friday, as crude prices soar after Russia's invasion of Ukraine. The act of "sabotage and terrorism" follows a series of similar attacks on Saudi...
Senator Christopher Lawrence “Bong” Go on Friday, March 11 said he supports proposals for a temporary moratorium on the collection of excise taxes on oil products to help Filipinos cope with the economic shocks as the Russia-Ukraine conflict drives up oil prices across the globe. Go emphasized...
The Department of Budget and Management (DBM) has released P3 billion to fund the government’s fuel subsidies for the public utility vehicle (PUV) and the agriculture sector. DBM Officer-in-Charge Undersecretary Tina Rose Marie L. Canda said on Thursday, March 10, that they released P2.5 billion...
Peasant group Kilusang Magbubukid ng Pilipinas (KMP) urged President Rodrigo Duterte to issue an Executive Order (EO), directing the removal of taxes on major oil products amid the price hike. KMP and Anakpawis Partylist leader Rafael Mariano, in a press statement on Thursday, March 10, said that...
Senatorial candidate Herbert “Bistek” Bautista on Thursday reiterated his push for the government to buy back oil firm Petron, saying this would serve as a means to lower oil prices down when these tend to go out of control due to some factors. According to Bautista, he has information that the...
Senate Minority Leader Franklin Drilon on Wednesday said the next administration is bound to face a “perfect economic storm” with the ongoing record-high budget deficit and high prices of fuel products caused by the crisis between Russia and Ukraine as well as a ballooning debt. “This is a...
Senator Panfilo "Ping" M. Lacson on Wednesday, March 9 reminded government authorities that there should be no room for corruption or administrative lapses in the distribution of fuel subsidies to sectors affected by the continued rise in oil prices. Lacson, who is running for President under...
A group of tricycle operators and drivers in Muntinlupa has asked the Muntinlupa City government to grant their request to increase the fare by P1 per person in light of the increase in gasoline prices in the country. The Federation of Muntinlupa Tricycle Operators and Drivers Association...
AAMBIS-OWA Party-list Rep. Sharon Garin says that there is an urgent need for a special session in Congress to address the local fuel situation, reiterating the call made by her numerous House of Representatives colleagues. House Committee on Economic Affairs chair and AAMBIS-OWA Party-list Rep....
Following the “biggest oil price hike” in the country since the implementation of 1998 Oil Deregulation Law, the Alliance of Concerned Teachers (ACT) on Tuesday, March 8, reiterated its call for salary increase amid the rising inflation and urged the national government to implement measures...
With a ‘mega spike’ of $150 per barrel oil in the world market anticipated in the days ahead, the Philippines is subsequently seen bracing for P100 per liter oil at the domestic petroleum pumps, especially for gasoline products that are now inching closer to P90 per liter. In a briefing with...
