The Philippines will see a slight improvement in its rice production in the upcoming marketing year (MY) as the government’s support programs for the sector—including the sale of subsidized rice—are now starting to pay off, according to the United States Department of Agriculture (USDA). In a...
After a week marked by two phases of price increases, motorists can finally expect a reprieve at the pump as oil prices are set to drop in the first week of July. Effective Tuesday, July 1, the price of gasoline will decrease by ₱1.40 per liter, while diesel will decrease by ₱1.80 per liter....
Despite the reported ceasefire between Israel and Iran, Sen. Raffy Tulfo reminded the Department of Transportation (DOTr) to still continue monitoring the average price of the Dubai crude oil to ensure that the fuel subsidy for PUV drivers and riders will be promptly distributed once its price has...
After a week of staggered price hikes at the gas pumps, fuel prices are expected to ease by the first week of July. Based on the four-day trading Mean of Platts Singapore (MOPS), gasoline is expected to go down by ₱1 to ₱1.40 per liter, while diesel may see a rollback of around ₱1.60 to...
The Department of Trade and Industry (DTI) said prices of basic necessities and prime commodities remain stable despite the recent surge in fuel prices. In a statement, the DTI said it is actively working with local manufacturers to maintain the current prices of goods despite a hike in fuel prices...
Senate President Francis “Chiz” Escudero is considering filing a bill that would grant standby authority to the Department of Finance (DOF) or the President to temporarily reduce oil taxes in response to global fuel price spikes triggered by geopolitical crises, such as the ongoing Iran-Israel...
Ride-hailing company Grab Philippines is rolling out a nationwide fuel discount program aimed at cushioning the impact of rising fuel costs on drivers and motorcycle taxi riders. In a statement on Wednesday, June 25, the company announced the launch of a fuel resilience package specifically...
NEW YORK — If oil prices are any measure, Iran just flinched. The price of oil tumbled Monday afternoon in an historical move as traders bet that Iran’s decision to bomb a U.S. base in Qatar signals it is not planning to do the one thing that could really hurt America: Shut down the flow of oil...
The Department of Energy (DOE) announced on Monday, June 23, that the government has reached an agreement with oil companies for the staggered implementation of domestic petroleum price adjustments. In a statement, DOE Officer-in-Charge Sharon S. Garin said this measure was taken in response to...
The Department of Agriculture (DA) is pausing its plan to lower the maximum suggested retail price (MSRP) of imported rice next month, citing global market volatility driven by escalating tensions in the Middle East. The DA initially planned to lower the MSRP of five-percent broken imported rice...
Senator Sherwin Gatchalian said on Saturday, June 21, that the government can release a ₱2.5-billion fuel subsidy fund to cushion the impact of rising oil prices on the transportation, agriculture, and fisheries sectors, with the Israel-Iran conflict driving up fuel costs. In an interview on...
The escalating tensions in the Middle East, which are expected to drive up fuel prices significantly, should prompt the Philippines to accelerate its transition to renewable energy (RE), according to a trade envoy. George Freeman, the United Kingdom’s (UK) trade envoy to the Philippines, said...
