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Third straight week of price rollback for diesel, kerosene (Eagle News) – Various oil companies will rollback prices of diesel by P4.15 per liter, and kerosene by P4.45 per liter effective Tuesday, September 20. However, there will be no changes in the price of gasoline. The advisory in the rollback in prices of diesel and kerosene has already been posted in the social pages of oil companies. This is the third straight week of […]
PARIS, France (AFP) – Gas and electricity costs are soaring due to a post-pandemic surge in demand and Russia’s invasion of Ukraine, creating an energy crisis of a magnitude unseen in half a century. As EU energy ministers hold emergency talks on Friday, here is a look at the challenges and options countries from Britain to Sri Lanka are facing: – Massive bills –With Russia slashing natural gas supplies to European Union countries in apparent […]
NEW YORK< United States (AFP) — US oil prices finished Wednesday at their lowest level since January on growing recession fears, while US stocks rebounded after a weak stretch left the market “oversold,” as analysts put it. Oil prices briefly climbed early on Wednesday as Russia’s President Vladimir Putin said his country would stop delivering oil and gas supplies to countries that introduce price caps. But then oil prices then turned sharply lower, with […]
MOSCOW, Russia (AFP) — Russian President Vladimir Putin said Wednesday it was “impossible” to isolate Moscow and vowed to cut gas and oil deliveries to countries imposing a price cap on supplies. Speaking at an economic forum, over six months after Moscow sent troops into Ukraine, the Russian leader sought to pivot towards allies in Asia, the Middle East and Africa as his country faces a barrage of Western sanctions. “No matter how much […]
by Sophie MAKRIS Agence France Presse Russian energy giant Gazprom suspended gas deliveries to Germany for maintenance on a major pipeline on Wednesday, the latest in a series of supply halts that have fuelled an energy crisis in Europe. Gazprom said supplies via Nord Stream 1 were “completely stopped” for “preventative work” at a compressor unit, shortly after European gas network operator ENTSOG announced that deliveries had ceased. The move comes as European countries […]
Gas prices to go up by P1.40 per liter; kerosene prices by P6.10 per liter (Eagle News) – Effective Tuesday, Aug. 30, another big oil price hike happens with diesel prices forecast to increase as much as P6.10 per liter. Gasoline prices are also forecast to go up between P1.20 to P1.40 per liter, according to various social media posts by petroleum companies. Kerosene prices will also go up by P6.10 per liter. -2nd […]
More than P1/liter hike for gasoline prices expected, says DOE official; tight world supply, high global demand cited (Eagle News) – An official of the Department of Energy said that prices of petroleum products would increase next week because of tight supply in the world market with the threat of Russian oil embargo and strong global demand. Assistant Director Rodela Romero of the DOE’s Oil Industry Management Bureau said that as of Friday, at […]
London, United Kingdom (AFP) by Roland JACKSON European natural gas prices climbed Thursday towards a record peak on heightened fears over Russian supplies, while equities marked time on the eve of a key speech from Federal Reserve chair Jerome Powell. Europe’s benchmark Dutch TTF gas contract advanced to 318 euros per megawatt hour before paring gains. That was not far from the record high 345 euros struck in March shortly after key gas producer Russia […]
LONDON, United Kingdom (AFP) — World stocks mostly sank Monday and the dollar rallied on concern the Federal Reserve will stick to its interest rate-hiking plans to combat runaway inflation. Eurozone equities also tanked as spiking natural gas prices sparked fears that winter energy shortages could spark recession, helping push the euro back under parity against the greenback. Oil slumped on speculation over an Iran nuclear deal that could ease a supply crunch caused […]
NEW YORK, United States (AFP) — It’s not too late for a road trip: The US average price of gasoline at the pump has finally fallen below $4.00 a gallon, providing a bit of relief for Americans struck by massive inflation at almost every turn. In the wake of the Russian invasion of Ukraine, prices soared, pushing past $5.00 for the first time in mid-June, according to the American Automobile Association (AAA). Falling global oil […]
HONG KONG, China (AFP) — Asian equities mostly rose Friday as a drop in oil prices to pre-Ukraine war levels stirred hopes of a slowdown in inflation and central bank interest rate hikes, while focus turns to key US jobs data later in the day. However, while markets have enjoyed a broadly positive week, optimism remains at a premium as traders fret over issues including the conflict in Eastern Europe, China’s military drills around […]
by Yann SCHREIBER with Sebastien ASH in Frankfurt Agence France-Presse MÜLHEIM AN DER RUHR, Germany (AFP) — German Chancellor Olaf Scholz on Wednesday raised the possibility of keeping nuclear plants going as he accused Russia of blocking the delivery of a key turbine to throttle gas supplies to Europe. The continent’s biggest economy has been scrambling for energy sources to fill a gap left by a reduction in gas supplies from Moscow. Standing next to […]
