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...
Oil industries expressed support for the removal of the 12 percent value-added tax (VAT) on petroleum products at the point of importation, saying the move would be easier to implement and would directly lower pump prices. During the second organization meeting of the Senate Proactive Response and...
Senator Risa Hontiveros on Monday, March 9 pushed for an emergency supplemental budget package that would be used by the government in response to the growing tension in the Middle East. Hontiveros made the call as local diesel and petroleum prices in the Philippines start to skyrocket this...
Senator Francis “Chiz” Escudero has called on lawmakers to consider amendments to the Tax Reform for Acceleration and Inclusion (TRAIN) Law and grant the President permanent powers to deal with rising oil prices. Escudero noted that the current safeguard in the TRAIN law or Republic Act No....
While President Marcos gave an assurance that the Philippines has ample supply of oil amid the Middle East conflict, he bared plans to ask the Congress to grant him an authority to reduce excise tax on petroleum products should prices exceed $80 per barrel. Marcos made the statement in a press...
Diesel and kerosene prices are set for another increase next week, while gasoline is expected to remain steady or see a slight rollback, based on four-day trading averages. Diesel costs could rise by ₱0.80 to ₱1 per liter, while kerosene may see a sharper increase of about ₱1.35$per liter,...
Motorists are bracing for yet another increase in fuel costs this week as global supply constraints and sustained demand push local pump prices higher for the fifth consecutive week for gasoline. Fuel retailers on Monday, Nov. 3, announced price adjustments, with gasoline rising by ₱1.7 per...
Oil prices are expected to rise again by the first week of November as growing seasonal demand meets tightened global supply due to ongoing sanctions. Based on the four-day trading average of Mean of Platts Singapore (MOPS), gasoline could climb at around ₱1.2 to ₱1.7 per liter, while diesel...
For the first time in eight weeks, the price of diesel will roll back this week, a reprieve to motorists after two months of continuous increases. Effective Tuesday, Oct. 21, diesel will see a ₱0.70 per liter rollback, while kerosene is set to go down by ₱0.60 per liter. This marks the first...
Motorists may face a seesaw of fuel prices next week, with gasoline expected to roll back further while diesel is projected to increase. Based on the four-day Mean of Platts Singapore (MOPS), gasoline prices are expected to decrease by ₱0.5 to ₱0.10 per liter. Meanwhile, diesel is projected to...
Global tensions and tightening supply in Europe and the United States (US) continue to ripple through the local market, driving up the cost of diesel and kerosene for another week. Effective Tuesday, Sept. 30, gasoline will decline by ₱0.20 per liter, while diesel and kerosene are both increasing...
After a five-week streak of fuel price increases, gasoline prices are expected to drop in the final week of September. Based on the four-day Mean of Platts Singapore (MOPS), gasoline is expected to rollback around ₱0.50 to ₱0.80 per liter. However, diesel is expected to continue its increase by...
