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...
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...
As global oil prices inched higher, hefty cost adjustments at domestic petroleum pumps are expected again next week for the 8th round this year. From the outcome of last week’s international trading, it has been estimated that gasoline prices will increase by P0.95 to P1.05 per liter; diesel by...
The financial misery of Filipino motorists will continue this week, as prices at petroleum pumps will rise anew due to soaring prices in the world market and the depreciating value of the Philippine peso against the US dollar. Based on cost adjustment advisories sent by the oil companies, the price...
Consumers’ pockets will suffer another major squeeze as big-time pump price hikes are anticipated again next week due to soaring prices in the world market, according to oil companies. Based on the initial calculation, prices will rise by P1.10 to P1.20 per liter for RON92 gasoline products and...
Just coming from heavy spending during the Christmas holidays, Filipino consumers will have to brace for massive spikes in oil prices next week at the scale of P1.85 to P1.95 per liter for gasoline, and P2.20 to P2.30 per liter for diesel products. Kerosene, which is the other commodity in the...
The Department of Finance (DOF) has warned that the proposed suspension of the excise taxes on fuel will be inequitable and lead to significant revenue losses, thus threatening the country’s recovery and growth prospects. Amid calls for the government to address the recent spiral in fuel prices,...
As global oil prices considerably settled at $85 per barrel, higher oil prices will reign again at Philippine petroleum pumps in this coming week. As calculated by the oil companies, the price of regular gasoline will be increased by P1.05 to P1.15 per liter; while the higher grade gasoline...
The Department of Finance (DOF) has advised caution in suspending excise tax on petroleum as it will incur substantial revenue losses for the government and may affect the budget for coronavirus recovery measures. In a memorandum submitted to Finance Secretary Carlos G. Dominguez III, Finance...
Motorists filling up their vehicles with diesel products will feel the brunt of pump cost adjustments to a greater degree this week, as the price of this commodity will rise by P0.95 per liter, according to the price adjustment notices sent by the oil companies. oil pumps photo The price of...
Consumers can benefit from slight reduction in pump prices this week, with diesel prices getting trimmed by P0.30 per liter; and kerosene had been down by P0.40 per liter. 26574 There was also expectation of at least P0.20 to P0.25 per liter rollback in gasoline prices, but that was wiped out by...
After successive eight weeks of price hikes, prices at domestic petroleum pumps will finally be eased with rollbacks next week in the range of P0.65 to P0.95 per liter across products. Based on the calculation of the oil companies, gasoline prices will likely be trimmed by P0.85 to P0.95 per liter;...
