Business NEWS

The Department of Agriculture (DA) and the Department of Energy (DOE) are in talks about the possible implementation of a gasoline discount mechanism in the fisheries sector, one of the most hit farm sub-sectors by the incessant rise in gasoline 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.

Malacañang will find a way to assist the beleaguered public utility vehicle (PUV) drivers amid the skyrocketing prices of pump fuel.

Amid new fears of demand slump for oil commodities, prices of gasoline products at Philippine pumps will be on P1.20 per liter rollback this week; while diesel prices will be reduced by P1.30 per liter.

Independent oil company, Cleanfuel opened the newest addition to its retail network in the country’s hub of trade and commerce and several other major industries, Batangas City.

Consumers will need to shell out more for their fuel budgets this week as the price of diesel products will be higher by P1.05 per liter; while gasoline product costs will rise by P1.00 per liter, according to the pricing adjustment announcements of the oil companies.

Domestic pump prices will continue to make a dent on consumers’ pockets next week as the costs of gasoline and diesel products will be on another round of upswing based on the calculation of the oil companies.

Motorists using diesel in their vehicles will be shelling out additional P0.60 per liter; and P0.50 per liter for gasoline, based on the upward adjustments implemented by the oil companies this week.

Filipino motorists filling up their vehicles with gasoline products will generate savings this week as the price of this commodity will be down by P0.25 per liter this week.

It will be another week of mixed bag adjustments at petroleum pumps next week as gasoline prices will be on rollback by P0.30 to P0.45 per liter; while diesel prices will go up by P0.20 to P0.30 per liter.

Gasoline prices at the pumps are anticipated to go up by P0.50 to P0.65 per liter next week, based on the result of trading in the world market last week. For diesel, consumers’ pockets may still experience respite as there might be no change in the cost of the commodity or there could just be a very marginal increase of P0.05 per liter.