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P3/liter rollback for diesel, P3.40 per liter rollback for kerosene (Eagle News) – Oil companies are set to implement a price rollback of around P3 per liter for diesel and for kerosene effective Tuesday, July 5, but not for gasoline the prices of which will remain the same. In separate advisories, various oil firms announced the price rollback of P3 per liter for diesel, and P3.40 per liter for kerosene. There will be no […]
WASHINGTON, June 28, 2022 (AFP) – Washington announced steps Tuesday to implement the new sanctions on Russia as agreed by G7 leaders, targeting Moscow’s defense industry, raising tariffs and banning gold imports from the country. The latest moves “strike at the heart of Russia’s ability to develop and deploy weapons and technology used for Vladimir Putin’s brutal war of aggression against Ukraine,” the US Treasury Department said in a statement. The sanctions target Rostec, Russia’s […]
HONG KONG, China (AFP) — Most Asian markets reversed early losses Tuesday and oil continued its recent rally after China slashed the quarantine time for visitors, fuelling hope for a boost to the embattled economy. The news came as Beijing and Shanghai appeared to have contained a Covid outbreak that had forced officials to impose lockdowns that had compounded global supply chain snarls. Authorities said inbound travellers would now only have to quarantine for […]
WASHINGTON, June 22, 2022 (AFP) US President Joe Biden will ask Congress Wednesday to suspend the federal gas tax for three months as skyrocketing prices cause widespread anger among Americans just months before crucial mid-term elections. The White House wants to discontinue the tax of 18 cents per gallon (3.78 liters) until September and will call on US states, which also tax at the pump, to do the same to “provide direct relief to […]
HONG KONG, June 22, 2022 (AFP) Oil prices plunged more than five percent Wednesday as traders grow increasingly worried that demand for the commodity will take a hit from a possible recession caused by a sharp hike in interest rates aimed at reining in inflation. West Texas Intermediate lost 5.6 percent to $103.31 a barrel, while Brent was off 5.2 percent at $108.62. Crude has soared in recent months to multi-year highs on concerns that […]
3rd oil price hike lower compared to the the price increase in the last two weeks Gas prices to increase by P0.80 per liter, diesel prices up by P3.10 per liter (Eagle News) – Effective Tuesday, June 21, oil companies will implement another round of oil price increase, although less than the hike implemented in the previous two weeks. Various oil companies have already issued advisories on the 80 centavo increase per liter of gasoline, […]
BEIJING, China (AFP) — China’s imports of oil from Russia rose 55 percent in May, customs data showed on Monday, with the West sanctioning fuel imports from Moscow over its invasion of Ukraine. The world’s second-biggest economy imported around 8.42 million tonnes of oil from Russia last month, surpassing its shipments from Saudi Arabia, as Beijing refuses to condemn Moscow’s war. Last week, President Xi Jinping assured Vladimir Putin of China’s support on Russian “sovereignty […]
by Yelim LEE Agence France Presse INCHEON, South Korea (AFP) — South Korean truck drivers staged an eighth day of protests Tuesday over wages and rising fuel costs, further snarling global supply chains with a strike that officials say has caused more than $1 billion in losses. The industrial action has disrupted shipments and production for the crucial steel, petrochemical and automobile sectors, in an early test for new President Yoon Suk-yeol who has […]
PARIS, France (AFP) — Russia earned 93 billion euros ($98 billion) from fossil fuel exports during the first 100 days of its war in Ukraine, with most sent to the European Union, according to research published Monday. The report from the independent, Finland-based Centre for Research on Energy and Clean Air (CREA) comes as Kyiv urges the West to sever all trade with Russia in the hopes of cutting off the Kremlin’s financial lifeline. […]
NEW YORK, United States (AFP) — The average price of premium gasoline at the pump has surpassed $5 a gallon for the first time in the United States, the American Automobile Association (AAA) reported Saturday. That record level, coming on top of months of soaring inflation, represents the latest bad news for President Joe Biden just five months before crucial midterm elections. A year ago, the average price of gas in the US was […]
(Eagle News) – Oil prices will again increase tomorrow, Tuesday, June 13, the second straight week of price hike of oil products. Gas prices will increase by P2.15 per liter, while diesel prices will be up by 4.30 per liter. Kerosene, on the other hand, will increase by P4.85 per liter. Several gasoline stations have already posted their advisories for the oil price increase. Surging energy costs are being felt across the global economy […]
Highlights importance of Coast Guard visibility in West Philippine Sea at event marking 124th PHL independence Day (Eagle News) — President Rodrigo Duterte said that the country has to “assert” its sovereignty even in disputed waters as he led the commissioning Sunday, June 12, of the Barko ng Pangulo ng Pilipinas (BRP) Melchora Aquino of the Philippine Coast Guard (PCG) which is expected to improve its capability to monitor the country’s coastlines. “You know […]
