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by John BIERS Agence France Presse Citing the need to counteract the “Putin price hike” following Russia’s invasion of Ukraine, President Biden has announced a sweeping plan to make unprecedented use of US emergency oil stockpiles. Under Biden’s plan, the United States will release up to a million barrels a day every day for six months from its Strategic Petroleum Reserve (SPR). On Friday, the International Energy Agency announced that a group of 30 […]
DOE appeals to oil firms’ corporate social responsibility to implement more discounts, stagger price increase (Eagle News) — Oil firms implemented the biggest price hike this year so far on Tuesday, March 15, with gasoline prices rising as much as P7.10 per liter, diesel prices by P13.15 per liter, and kerosene prices by P13.15 per liter. This is the 11th straight week of oil price hikes due to continuing Russia-Ukraine tensions that further hurt […]
(Eagle News) – Another oil price hike will take effect on Tuesday, March 8, the biggest hike in oil prices this year Diesel prices will rise by 5.85 per liter, while gasoline prices will increase by P3.60 per liter. Prices of kerosene will also be increased by 4.10 per liter. This is the 10th straight week that oil prices have risen this year due to rising tensions between Russia and Ukraine. Various oil companies […]
Brent North Sea crude oil surges close to $140 per barrel, a near 14-year high LONDON, United Kingdom (AFP) — Europe and UK natural gas prices soared to record highs Monday on fresh supply fears after the United States proposed an embargo on Russian crude oil. Europe gas reference Dutch TTF rocketed more than 60 percent to reach an all-time peak of 345 euros per megawatt hour and UK gas hit an all-time pinnacle […]
Long-term and short-term measures identified to address crisis (Eagle News) – The Philippines’ energy department admitted the country is “at the mercy of global price movements” and would be affected with the continuing Russia-Ukraine conflict. Energy Secretary Alfonso Cusi said that while the Philippines primarily gets its crude oil requirements from the Middle East, the impact of the Ukraine crisis will be felt in the international oil markets and thus have a direct impact […]
NEW YORK, United States (AFP) — Oil prices nosedived Tuesday on lower demand prospects as Europe’s biggest economy Germany said it would reimpose strict coronavirus containment measures as it struggles, along with other EU nations, to roll out vaccines. European stocks ended the day mostly lower, as did US stocks, as renewed fears of spreading Covid-19 overtook hopes of a swift reopening to the world’s largest economy. On currency markets, the Turkish lira stabilized a […]
SINGAPORE (AFP) — Oil prices extended losses in Asian trade Monday and languished at 17-year lows, with the coronavirus crisis escalating around the world and no end in sight to a vicious price war. US benchmark West Texas Intermediate fell 5.3 percent to trade at $20 a barrel, while international benchmark Brent crude was off 6.5 percent at $23. The falls came after the death toll from the pandemic surged past 30,000 at the […]
Singapore, Singapore (AFP) — Oil prices extended the gloom on Monday after a Saudi-Russian price war and an equities meltdown sparked by the coronavirus pandemic saw their biggest weekly losses in more than a decade. US benchmark West Texas Intermediate (WTI) briefly fell below $30 a barrel, or 5.5 percent, in morning Asian trade before regaining its footing. It was trading at $31.14 a barrel at around 0200 GMT, down nearly two percent from Friday’s […]
https://youtu.be/17G0OxXELVc (Eagle News) – Oil companies rolled back the prices of gasoline, diesel and kerosene today, Tuesday, October 8, 2019, as prices of oil in the world market dropped with the restored oil outputs in Saudi by last month. Gasoline prices were slashed by 80 centavos per liter, while diesel prices were reduced by P1 per liter. Kerosene prices were likewise rolled back by P1.15 per liter. This was the second consecutive week that oil […]
LONDON, United Kingdom (AFP) — Oil prices fell Tuesday but held most of the previous day’s record gains that were fuelled by an attack on Saudi facilities that wiped out half the country’s crude output. Traders were nervously awaiting further US response after it said Iran was likely to blame. The crisis revived fears of a conflict in the tinderbox Gulf region and raised questions about the security of crude fields in the world’s […]
(Eagle News) – Expect a rollback of petroleum prices starting Tuesday, August 13, 2019, at 6 a.m. Pump prices of gasoline will be slashed by as much as 50 centavos per liter, while diesel prices will be cut by P1.10 per liter. Kerosene prices will also be reduced by P1.30 per liter. Flying V, Seaoil Philippines, Shell, and Caltex have already made their announcement on the rollback of pump prices in separate advisories. Total Philippines, […]
(Eagle News) — Senator Grace Poe on Thursday, Dec. 13, revealed only one third of the P977 million allotted as fuel subsidy for jeepney drivers and operators has been distributed to them. According to Poe, based on a report given to her, only 69,065 ‘Pantawid Pasada’ cards containing P5,000 subsidy each were turned over to the drivers and operators, for a total amount of P345 million. Poe said there are 171836 intended beneficiaries of the cards, […]
