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(Eagle News) – President Rodrigo Duterte has decided to temporarily suspend the implementation of the additional fuel excise tax to “arrest the rising price of oil” and to tame inflation, according to Special Assistant to the President Christopher “Bong” Go. In his speech at the opening of the TienDA Malasakit Store in Taguig City on Sunday, October 14, Go said that the temporary suspension of the second tranche of the fuel excise tax would be […]
(Eagle News)–Senator Bam Aquino on Wednesday, Sept. 19, renewed his call for the passage of the Bawas Presyo Bill following what he said was another round of price increases in fuel. Senate Bill No. 1798 aims to suspend the excise tax on fuel under the Tax Reform for Acceleration and Inclusion Law “when the average inflation rate surpasses the annual inflation target over a three-month period.” “Kumilos na tayo. Hindi pwedeng nganga lang ang gobyerno sa […]
(Eagle News) — The Philippines is looking to import diesel from Russia. According to Presidential Spokesperson Harry Roque, based on a report from Energy Secretary Alfonso Cusi, the Philippine National Oil Company Exploration Corporation (PNOC-EC) has taken steps to do just that to help mitigate the effects of the rising prices in fuel. “Ang landed cost po dito kasama na ‘yung cost, insurance and freight sa Pilipinas is estimated only to be between ₱25 to ₱27,” Roque said. He said, […]
(Eagle News) — President Rodrigo Duterte on Wednesday, May 30, defended the implementation of the Tax Reform for Acceleration and Inclusion law, saying money was needed to fund government programs. “Inflation is always there. There are many reasons, but actually, one of them is TRAIN. But I need money also to run the country. If you do not give it, fine,” Duterte said. The President made the statement after several senators called for the suspension […]
(Eagle News)–The Department of Energy on Saturday, May 26, said it would recommend the suspension of excise tax on fuel if its price reaches $80 per barrel for three consecutive months. Energy Undersecretary Donato Marcos said in a radio dzbb interview that the recommendation, should it push through, would be given to the Department of Finance. In the meantime, he said they were monitoring gasoline stations, and were now requiring them to give a detailed […]
Ni Rox Montallana Eagle News Correspondent PUERTO PRINCESA CITY, Palawan (Eagle News) – Nagbigay ng babala ang pamunuan ng Department of Trade and Industry (DTI) sa mga lalabag sa umiiral na Republic Act No. 7581 o The Price Act. Ang mga mahuhuling lalabag sa nasabing batas ay maaaring pagmultahin ng hindi hihigit sa dalawang milyong piso o pagpataw ng kasong kriminal na may pagkakakulong na lima (5) hanggang labing limang (15) taon. Ayon kay DTI […]
LONDON, United Kingdom (Reuters) — Waste coffee grounds will be used to help fuel some of London’s buses, Royal Dutch Shell and green energy company bio-bean said on Monday (November 20). A new biofuel, which contains part coffee oil, is being added to the London bus fuel supply chain where it can be used without the need for modification, according to bio-bean founder Arthur Kay. “Bio-bean has created a B20 fuel which is 20 percent […]
WARSAW, Poland (Reuters) — A group of Warsaw-based scientists say they have developed a new, economically viable method for transforming non-recyclable plastic waste into gasoline and diesel fuel which complies with European standards. Inventor Adam Handerek’s team have worked together with the Automotive Industry Institute in Warsaw to construct a prototype reactor that converts popular plastics including polyethylene, polypropylene and polystyrene into gasoline and diesel fuel fractions. Their method uses a vertical reactor with internal […]
AUCKLAND, NEW ZEALAND (Reuters) — New Zealand’s jet fuel shortage on Tuesday (September 19) forced 39 flights to be cancelled, 13 of them international, with concerns the fuel crisis may spread after fuel stations in the country’s largest city Auckland halted high-octane gasoline sales. The fuel shortage, caused by a damaged pipeline to Auckland Airport, has caused widespread disruption to air travel since the weekend and comes only days before Saturday’s (September 23) national election […]
CALIFORNIA, United States (AFP) — Researchers at the University of California, Riverside have created a computer program for plug-in hybrid electric vehicles (PHEVs) that learns how to save fuel, improving fuel efficiency by more than 30 percent. PHEVs can use either gasoline or electric power. Lab tests have shown the most efficient way for them to run is to switch between power from the battery and gas throughout the trip, rather than running exclusively on […]
HONG KONG, China (AFP) — Asian energy firms sank Thursday following a plunge in oil prices while equity traders remained on edge after North Korea’s latest missile test and warnings from the United States it would use force to deal with the nuclear-armed state. Crude fell around four percent Wednesday on renewed concerns about a global supply glut that overshadowed data pointing to a drop in US stockpiles. Investors are worried that an output cut […]
SAN FRANCISCO, United States (AFP) — Tesla on Wednesday announced plans to raise $1.15 billion in new funding to help fuel production of a mass market-targeted Model 3 electric car set for release this year. Tesla said that it planned to offer $250 million in common stock and $750 million in convertible notes, with underwriters being given the option to buy an additional 15 percent of each offering. Tesla co-founder and chief executive Elon Musk […]
