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 […]
LPG prices up this month
Prices of cooking gas are up for the third consecutive month this October. Petron announced yesterday that it will implement a P3.75 per kilogram increase in LPG prices starting today. Its AutoLPG prices will likewise go up by P2.09 per liter. “These reflect the international contract price of LPG for the month of October,” Petron […]
Hefty gasoline price rollback next week, increase for diesel
A mixed movement in pump prices is expected next week, with gasoline poised for a hefty rollback while diesel could see a slight increase. “Based on the four-day trading of MOPS (Mean of Platts Singapore), we are expecting a mixed movement on the prices of petroleum products,” Department of Energy (DOE) Oil Industry Management Bureau […]
74,089 PUV operators get fuel subsidy
Public utility vehicle (PUV) operators have received P483.748 million in financial assistance amid the continuous fuel price hikes in recent weeks, according to the Land Transportation Franchising and Regulatory Board (LTFRB). Out of the 1.36 million expected beneficiaries, the LTFRB said 74,089 PUV operators have received fuel subsidy. LTFRB Chairman Teofilo Guadiz said the agency […]
Oil prices lower on strong dollar; Fed, China fears dent outlook
Oil prices retreated Tuesday, falling further from recent highs as a higher U.S. dollar added to concerns of weakening economic activity as the Federal Reserve keeps interest rates higher for longer. By 09:35 ET (13.35 GMT), the U.S. crude futures traded 0.1% lower at $89.61 a barrel, while the Brent contract dropped 0.2% to $91.73. […]
DOE’s Lotilla: Fuel price rollback seen, but don’t get hopes up
Another round of rollback in fuel pump prices could be expected next week, but the motoring public should manage expectations as external factors are still at play, Energy Secretary Raphael Lotilla said Wednesday. Citing global oil trading in the past two days, Lotilla said a downtrend in petroleum prices is being observed, which could reflect […]
Philhealth temporarily shuts down systems after hackers attack website
The Philippine Health Insurance Corp. (Philhealth) has temporarily shut down affected online systems after computer hackers attacked the website and its application system. The computer hackers managed to take down the systems of Philhealth on Friday and blocked access to the site for more than 24 hours. In a statement on Saturday, PhilHealth said it […]