President Marcos assured the public that the country has enough crude oil supply to last until the end of June this year, even as the government continues to brace for the impact of the Middle East conflict on global fuel prices. Speaking during the opening of the NAIAX westbound off-ramp to the...
With tough times ahead, austerity is the new buzzword. Yes, Virginia, we are in belt-tightening mode. The legs of inflation have walked their way into every aspect of basic services, with no apparent de-escalation of hostilities on the horizon. As an emerging economy, the Philippines is believed to...
The government received its initial shipment of imported diesel on Thursday, March 26, marking the start of a state-led effort to stabilize domestic fuel stocks and insulate the economy from global price volatility. The Department of Energy said the agency took delivery of approximately 22,578,000...
SM Supermalls will shorten operating hours across its locations starting March 30 as the country grapples with the declared national energy emergency. In a statement, the retail unit of SM Prime Holdings Inc. said TSM Supermalls’ shopping centers will adjust their opening times to 11 a.m. from...
Flag carrier Philippine Airlines (PAL) is cutting down its international and domestic connectivity from regional airports as it looks to optimize services to minimize the impact of the Middle East conflict on its operations. In an advisory on Thursday, March 26, PAL said it is implementing...
While Philippine monetary authorities maintained the current policy rate at 4.25 percent in a rare off-cycle meeting, the Bangko Sentral ng Pilipinas (BSP) said it would hike key interest rates if second-round effects from war-driven oil supply shocks occur. “Once we see second-round effects from...
The Department of Foreign Affairs (DFA) said Thursday, March 26, it will continue to look for possible partners around the world without compromising the Philippines ' interests after the arrival of Russian oil in the country. In a statement, the DFA reiterated its pronouncement deferring...
Malacañang assured Filipinos that the government will take every action "within the bounds of the law" to cushion impacts caused by the ongoing crisis in the Middle East. "Ang gobyerno po, lahat ng puwedeng gawin within the bounds of law ay gagawin po (The government will do everything it can...
Senator Sherwin Gatchalian urged government agencies on Thursday, March 26, to act swiftly to secure additional petroleum supplies amid growing uncertainty in the global market. Gatchalian said this during the second organizational meeting, specifically calling on the Department of Energy (DOE)...
A unified government framework is needed to effectively address the global fuel and energy disruptions amid the continuing conflict in the Middle East, Sen. Francis “Chiz” Escudero said on Thursday, March 26. Escudero made the call as he welcomed President Marcos’ signing of Executive Order...
Petron Corp., the only oil refiner in the Philippines, is seeking permission from the United States (US) government to process Russian crude as the company attempts to bypass supply disruptions triggered by conflict in the Middle East. The move comes as the Sierra Leone-flagged tanker Sara Sky...
The Philippine National Police (PNP) has not monitored any significant incidents that threatened peace and order during the first day of the two-day transport strike launched to protest the rising fuel prices. PNP chief Gen. Jose Melencio C. Nartatez, Jr. said police units in Metro Manila and other...
