Oil prices rallied while the dollar and yen advanced on Monday after Hamas launched a shock attack on Israel at the weekend, sparking fresh concerns about tensions in the Middle East. The crisis fanned concerns about supplies of crude from the region at a time when supply worries are already high owing to Saudi Arabia […]
Fuel prices drop in Cebu City gas stations as of October 10
The motorists can slightly loosen their grip on their budget this week as the fuel prices had its rollback effective on Tuesday, October 10. In separate advisories, the oil firms announced they would slash prices of gasoline by P3.05 per liter and diesel by P2.45 per liter, while kerosene would be cut by P3 per […]
DOTr chief Bautista, 2 congressmen linked to ‘LTFRB graft’
Transportation Secretary Jaime Bautista and two congressmen have been linked to alleged corruption in the Land Transportation Franchising and Regulatory Board (LTFRB). According to Maki Pulido’s report on “24 Oras” on Tuesday, transport group Manibela president Mar Valbuena said the whistleblower, Jeff Tumbado, alleged that suspended LTFRB chairperson Teofilo Guadiz III delivered corruption money to […]
Free bus, jeepney rides back on November 1 – LTFRB
The government will relaunch its free ride program for public utility jeepneys and buses in Metro Manila beginning Nov. 1, the Land Transportation Franchising and Regulatory Board (LTFRB) announced yesterday. At a press briefing, LTFRB Chairman Teofilo Guadiz III said the Department of Budget and Management has approved funding of P1.3 billion for the free […]
LTFRB to revive ‘libreng sakay’ initiative
Land Transportation Franchising and Regulatory Board (LTFRB) announced on Monday that the “Libreng Sakay,” or free transportation initiative of the government, will return starting in November and last until December. At a press conference in Quezon City, LTFRB Chairman Teofilo Guadiz 3rd said they are waiting for the P1.3 billion from the Department of Transportation […]
NPC launches probe on PhilHealth breach More than 10 hacked external systems restored
The National Privacy Commission (NPC) has launched an investigation to ascertain the full scope of the data breach involved in the Philippine Health Insurance Corp. (PhilHealth) ransomware attack, as it discovers over 700 gigabytes (GB) extracted from a data dump claimed to be from the Medusa hacker group. In a statement over the weekend, the […]
Fuel prices down by as much as P3 per liter next week
Motorists should expect another sigh of relief in the coming week as pump prices of petroleum products are poised to go down, according to oil industry sources. Citing data from Mean of Platts Singapore (MOPS) trading in the last four days, Department of Energy-Oil Industry Management Bureau Assistant Director Rodela Romero said that “all rollbacks” […]
Philippines vehicle production up by 35%
The Philippines continued to lead with the fastest growth rate in motor vehicle production in the ASEAN region as it posted a 34.9 percent jump in the first eight months of the year. Based on data from the Association of Southeast Asian Nations (ASEAN) Automotive Federation (AAF), 74,107 motor vehicles were assembled in the Philippines […]
US crude stocks down 4.2M barrels; Gasoline up 3.9M, Cushing builds too – API
US crude oil stockpiles possibly fell as much as 4.0 million barrels last week while inventories of gasoline likely rose by an almost similar level of 3.9 million, as refiners appeared to maximize fuel production due to lucrative returns, petroleum trade group API reported Tuesday. Builds were also seen in distillates — a feedstock for […]
LTFRB okays P1 fare hike
THE Land Transportation Franchising and Regulatory Board (LTFRB) approved a temporary P1 jeepney fare hike on Tuesday. The increase will take effect on October 8. This, however, might only be temporary as the LTFRB is still reviewing the primary P5 fare hike request submitted by the Pasang Masda, the Alliance of Concerned Transport Organizations, and […]