The Land Transportation Franchising and Regulatory Board (LTFRB) will begin the distribution of the P3-billion fuel subsidy for public utility vehicle (PUV) operators today. The LTFRB said that around 1.36 million beneficiaries will receive the subsidy through e-wallet accounts, bank accounts and fuel subsidy cards. The subsidy is seen to cushion the adverse impact of […]
Oil hit 2023 highs as OPEC harps on tight supply
When the world’s oil producers issue an outlook after choking the market of supply to deliberately create a lopsided supply-demand situation, there can be little surprise on what they’ll say — or how the market might react. Crude prices continued their surge in Tuesday’s trade, with global benchmark Brent shooting above $92 per barrel and […]
Crude oil higher; IEA and OPEC monthly reports due this week
Oil prices rose Monday, trading near fresh 10-month highs ahead of this week’s release of widely-watched monthly reports from the International Energy Agency and the Organization of the Petroleum Exporting Countries. By 09:50 ET (13.50 GMT), the U.S. crude futures traded 0.3% higher at $87.73 a barrel, while the Brent contract climbed 0.5% to $91.14. […]
PISTON:P6,500-P10,000 fuel subsidy ‘not enough’
Transport group Pagkakaisa ng Samahan ng Tsuper at Operator Nationwide (PISTON) on Saturday said the P6,500 to P10,000 one-time fuel subsidy is not enough amid increasing pump prices. “‘Pag tiningnan po natin, ito ay pampatid-uhaw lamang sapagkat sa P6,500 halos apat na araw lamang naico-consume ng ating mga driver at operator lalo na kung ito […]
Crude oil higher, helped by a supply-driven rally
Oil prices rose Friday, on course to register weekly gains as traders focused on tight supplies rather than the uncertain macroeconomic outlook. By 10:00 ET (14.00 GMT), the U.S. crude futures traded 0.3% higher at $87.15 a barrel, while the Brent contract climbed 0.4% to $90.31. Both contracts are on course for gains of over […]
Natural Gas: Storage Crystal-Balling Improves After Misfires – A ‘Good Omen’?
It’s quite fascinating the difference a week can make for the storage forecasters in natural gas. There’s no certainty yet if a new trend is in place for those who had been off-target week after week — sometimes horrendously — on the number of cubic feet that got injected into underground salt caverns in the […]
LTO says it will grant a one-year validity extension for expiring driver’s licenses
The Land Transportation Office (LTO) says it will be granting a one-year extension of validity for expiring driver’s licenses as it continues to deal with license card supply shortage and issues. The extension was confirmed by agency chief Vigor Mendoza II near the end of a House Committee on Appropriations briefing on Monday, September 4, for the 2024 budget […]
Gasoline prices up for 8th straight week; diesel and kerosene for 9th
Motorists will have to tighten their belts even further as firms are set to implement the eighth straight week of upward adjustments for gasoline, and the ninth for both diesel and kerosene on Tuesday. In separate advisories, Chevron Philippines Inc. (Caltex), Petron Corp., Pilipinas Shell Petroleum Corp., and Seaoil Philippines Corp. said they will hike […]
Inflation likely higher at 4.9%
INFLATION could have snapped a six-month decline in August due to higher fuel prices and the impact of recent typhoons, analysts polled by The Manila Times said. The median forecast in a survey of 13 economists was 4.9 percent, within the Bangko Sentral ng Pilipinas’ (BSP) 4.8- to 5.6-percent projection for the month and up from June’s […]
There’s a New Bus Route from BGC to Puerto Galera, Sorsogon + More
When you need to take a break from the accessible beaches of the north for your weekend getaways, you can always go to the likes of Batangas and Puerto Galera near Metro Manila. And when you continue driving further to the south, you’ll eventually arrive at the underrated beaches of Sorsogon, where you’ll find the likes of a pink beach called Subic […]