The Federation of Philippine Industries (FPI) is backing targeted measures to mitigate the impact of surging energy costs, though the group warned that remote-work mandates must account for the operational realities of the manufacturing sector. The International Energy Agency recently urged global...
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 House of Representatives needs to look into the outrageous prices of diesel in the Philippines, which according to a lawmaker is outpacing those other countries in Asia. Making this call for a House inquiry on Thursday, March 26 was Senior Citizens Party-list Rep. Rodolfo "Ompong" Ordanes, who...
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...
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...
Batangas 1st district Rep. Leandro Legarda Leviste is asking the national government to limit to ₱10 billion its expenditures for the Philippines ' hosting of the Association of Southeast Asian Nations (ASEAN) Summit this year. Leviste said this move alone would generate savings of...
House Deputy Speaker Bacolod City lone district Rep. Albee Benitez has rejected the notion that congressmen have only been preoccupied with impeachment hearings, saying they 've also been looking for ways to address the fuel price crisis. "Impeachment lang ang inisiip nilang ginagawa namin,...
Malacañang on Thursday, March 26, clarified that essential government services such as ambulance, police, fire, and health operations will not be affected by the government’s energy conservation measures amid rising global fuel prices. Executive Secretary Ralph Recto said agencies delivering...
