DUBAI, United Arab Emirates (AP) — A tanker traveling off the coast of Oman in the Strait of Hormuz caught on fire early Tuesday morning after being struck by a projectile, the British military said. The attack was the latest targeting a vessel moving through the narrow mouth of the Persian...
Inflation, or year-on-year consumer price increases, slowed slightly to 6.4 percent in June as gas prices eased, even as the headline rate continued to be much higher compared with year-ago levels. National Statistician Claire Dennis S. Mapa noted during a press briefing on Tuesday, July 7, that...
Diesel prices are rising again in early July, nearly erasing the massive rollback enjoyed by motorists weeks before the end of June. Effective Tuesday, July 7, diesel prices will rise by ₱1.57 to ₱3.57 per liter, while kerosene prices will increase by ₱1.70 to ₱3.70 per liter. Although...
Diesel prices are poised to rise by over a peso next week as Middle East outflows remain volatile. Based on Mean of Platts Singapore’s (MOPS) full-week trading, diesel prices could rise by ₱1.15 to ₱3.15 per liter, while gasoline prices could either ease by ₱1.70 or inch up by ₱0.30 per...
Senate Committee on Energy Chairperson Senator Erwin Tulfo wants answers from Bureau of Customs (BOC) officials regarding the alleged smuggling of oil products into the country. As such, the neophyte senator plans to summon agency representatives to appear before the Senate and address the issue,...
Tempered optimism over a Middle East peace agreement has left global oil trading volatile, positioning local fuel prices for another round of hikes next week as market anxiety outweighs diplomatic breakthroughs. Based on four-day trading of Mean of Platts Singapore (MOPS), diesel prices may...
TORONTO (AP) — Canada took a step Thursday toward opening a new route for its vast oil reserves to Asian markets as Prime Minister Mark Carney advanced a Pacific Coast pipeline from Alberta, seeking to reduce the country’s dependence on the U.S. while easing separatist tensions and preserving...
Today’s piece is a reflection on the fuel marking program (FMP), a topic that is the current buzz in business circles and one close to my heart as a chemist by education and a nosy journalist by profession. That’s right, Virginia, I’m joining the fray. I will try to go deep into the...
Japanese financial giant MUFG Bank Ltd. expects the Philippine peso to gradually regain footing against the United States (US) dollar on the back of lower oil prices, improving government spending, and additional interest rate hikes by the Bangko Sentral ng Pilipinas (BSP). MUFG Global Markets...
The Department of Social Welfare and Development (DSWD) has concluded its nationwide distribution of ₱5,000 cash assistance to public utility vehicle (PUV) drivers and delivery riders affected by rising fuel prices. In a statement on Wednesday, July 1, DSWD Assistant Secretary and spokesperson...
DUBAI, United Arab Emirates (AP) — A Liberian oil tanker made its way out of the Strait of Hormuz on Thursday despite threats to shipping from Iran’s paramilitary Revolutionary Guard and using a new route close to Oman’s shore that has been promoted by a U.N. maritime agency. The transit of...
Motorists are on track for major relief at the pumps next week, with diesel prices poised to plunge by up to ₱9.5 per liter and gasoline by up to ₱5.00 per liter as global oil markets cool down. Based on the four-day trading average of the Mean of Platts Singapore (MOPS), the regional...
