BAGUIO CITY – Most bus companies serving this city have reduced regular trips by 30 percent in line with fuel conservation measures due to overseas conflict. Police Lt. Col. James Allen Dogao, chief of the Baguio City Police Office-Traffic Enforcement Unit, said bus companies have increased their...
Fuel prices are expected to offer a slight reprieve to motorists next week following a period of aggressive “big time” hikes, as easing geopolitical tensions in the Middle East begin to cool global energy benchmarks. According to industry data based on the four-day trading Mean of Platts...
Senator Robin Padilla has called on the Philippine government to revive its longstanding claim over Sabah , citing the territory’s oil resources as the country grapples with rising fuel costs due to tensions in the Middle East. In a Facebook post addressed to President Marcos, Padilla said...
Foreign lenders are backing the Bangko Sentral ng Pilipinas’ (BSP) increasingly hawkish stance as the local economy grapples with war-driven oil price volatility and supply disruptions. Nomura Holdings Inc., a Japanese investment and brokerage giant, raised its expectations for “significant”...
President Marcos said proposals to repeal the Oil Deregulation Law and remove the value-added tax (VAT) on fuel are being studied, but stressed that the government is focused on immediate measures to ease the impact of rising oil prices. “As I said before, nothing is being discounted,” he told...
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 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...
