Motorists and businesses are set to receive relief this week as local retail fuel prices record significant declines, driven by lower international benchmark costs and a stronger local currency. Effective Aug. 11, local pump prices for gasoline will decline by ₱4.70 per liter, diesel by ₱4.30...
Motorists are on track for a second consecutive week of relief at the pump, with local fuel prices projected to fall by as much as ₱5 per liter as diplomatic movements in the Middle East pull down global crude benchmark rates. Based on four-day trading averages from the Mean of Platts Singapore...
Retail pump prices are poised to drop during the first week of August following consecutive weeks of steep price hikes. Based on four-day trading data from the Mean of Platts Singapore—the regional benchmark for refined petroleum products—gasoline prices could decline by ₱1 to ₱1.5 per...
Motorists are expected to rush to gasoline stations on Monday, July 27, to beat another round of steep fuel price increases taking effect on Tuesday, July 28, with the anticipated queues likely adding to traffic on the day of President Ferdinand R. Marcos Jr.’s fifth State of the Nation Address...
Motorists will need to ease off the gas pedal once more, as oil price hikes are expected for the fourth time this month. Based on four-day Mean of Platts Singapore (MOPS) trading and foreign exchange (forex) averages, diesel prices may climb by around ₱6 to ₱6.50 per liter, while gasoline...
The Philippines is among the economies hardest hit by the prolonged Middle East conflict, but it could emerge as a beneficiary once the Strait of Hormuz reopens and global oil shipments normalize, according to think tank Oxford Economics. In a July 22 report, Oxford Economics senior emerging market...
Sharp escalation of geopolitical friction in the Middle East is threatening to hit Filipino consumers at the pump next week, with early market indicators pointing to a return of double-digit fuel price hikes. Based on the three-day trading Mean of Platts Singapore (MOPS) — the regional benchmark...
Inflation, or year-on-year consumer price increases, slowed slightly to 6.4 percent in June as gas prices eased, even as the headline rate continued to be much higher compared with year-ago levels. National Statistician Claire Dennis S. Mapa noted during a press briefing on Tuesday, July 7, that...
Diesel prices are poised to rise by over a peso next week as Middle East outflows remain volatile. Based on Mean of Platts Singapore’s (MOPS) full-week trading, diesel prices could rise by ₱1.15 to ₱3.15 per liter, while gasoline prices could either ease by ₱1.70 or inch up by ₱0.30 per...
Tempered optimism over a Middle East peace agreement has left global oil trading volatile, positioning local fuel prices for another round of hikes next week as market anxiety outweighs diplomatic breakthroughs. Based on four-day trading of Mean of Platts Singapore (MOPS), diesel prices may...
Local pump prices are on track for a big-time rollback next week, with diesel projected to drop by up to ₱9 per liter and gasoline by ₱5 due to the United States (US)-Iran peace deal, which will reopen the Strait of Hormuz, a critical global oil route. Based on the first three days of...
NEW YORK — High oil and gasoline prices and energy supply problems won’t be solved overnight, despite an agreement to end the Iran war and open the Strait of Hormuz announced Sunday. It will likely take months before energy companies can resume operations to the point of meeting the world’s...
