The Department of Energy (DOE) announced on Monday, June 23, that the government has reached an agreement with oil companies for the staggered implementation of domestic petroleum price adjustments. In a statement, DOE Officer-in-Charge Sharon S. Garin said this measure was taken in response to...
Senator Sherwin Gatchalian said on Saturday, June 21, that the government can release a ₱2.5-billion fuel subsidy fund to cushion the impact of rising oil prices on the transportation, agriculture, and fisheries sectors, with the Israel-Iran conflict driving up fuel costs. In an interview on...
The escalating tensions in the Middle East, which are expected to drive up fuel prices significantly, should prompt the Philippines to accelerate its transition to renewable energy (RE), according to a trade envoy. George Freeman, the United Kingdom’s (UK) trade envoy to the Philippines, said...
A big-time fuel price hike, estimated at nearly ₱5 per liter, is set to rock motorists next week, driven by external shocks from escalating Middle East tensions. Based on the four-day Mean of Platts Singapore (MOPS), gasoline could see an upward adjustment of ₱2.50 to ₱3.20 per liter, with...
The market is on edge due to the recent geopolitical tensions between Iran and Israel, prompting the Philippines to brace for potential price increases at gas pumps next week. Jetti Petroleum has indicated that the escalating conflict could impact the supply and transportation of crude oil...
Recognizing that the ongoing tensions between Israel and Iran would eventually hit oil prices, President Marcos said fuel subsidies will be given to those who will be heavily affected. The government, Marcos said, will replicate what it did during the Covid-19 pandemic, where fuel subsidies were...
Motorists will need to tighten their belts once more as fuel prices are set to increase this week. Effective Tuesday, June 17, gasoline and diesel prices will both inch up by ₱1.80 per liter, while kerosene will go up by ₱1.50 per liter. These adjustments have been announced by Shell Pilipinas,...
HONG KONG — Oil prices surged and Asian shares were lower Friday after Israel struck Iranian nuclear and military targets in an attack that raised the risk of all-out war between them. U.S. benchmark crude oil rose by $3.93, or 5.8 percent, to $71.97 per barrel. Brent crude, the international...
Motorists will need to brace themselves for another week of fuel price hikes. Based on the four-day trading in the Mean of Platts Singapore (MOPS), gasoline is expected to increase by around ₱0.90 to ₱1.4 per liter, while diesel is anticipated to rise by around ₱1 to ₱1.4 per liter....
Fuel prices are set to increase ahead of the celebration of Philippine Independence Day on June 12. Effective Tuesday, June 10, gasoline prices will inch up by ₱0.60 per liter, while diesel will go up by ₱0.95 per liter. Kerosene is also set to climb by ₱0.30 per liter. Shell Pilipinas,...
Motorists may need to tighten their belts as fuel prices are set to increase next week. Based on the four-day trading Mean of Platts Singapore (MOPS), gasoline is expected to rise somewhere between ₱0.15 and ₱0.60 per liter, while diesel is expected to jump to around ₱0.50 to ₱0.90 per...
Motorists may need to tighten their belts in the first week of June, as fuel prices are set to increase. Starting Tuesday, June 3, gasoline prices will rise by ₱0.40 per liter, and diesel by ₱0.30 per liter. Kerosene, on the other hand, will decrease by ₱0.10 per liter. Shell Pilipinas,...
