(File photo) MANILA - Consumers have to brace for a hefty hike in the prices of petroleum products which takes effect on Tuesday. In separate advisories, Caltex, Cleanfuel, Jetti, Petro Gazz, Seaoil, and Shell said they will increase gasoline prices by PHP3.60 per liter and PHP5.85 per liter on diesel. Caltex, Seaoil, and Shell will also hike kerosene prices by PHP4.10 per liter. Local oil prices have been increasing for the past 10 weeks. The latest drivers for this week's soaring oil prices in the world market include the discussions to ban Russian crude oil in the United States and Europe as well as the delays in talks of reviving the nuclear deal with Iran. As of this writing, US oil benchmark West Texas Intermediate was trading at USD125.8 per barrel while European oil benchmark Brent crude traded at USD129.5 a barrel, according to OilPrice.com. Based on data from Investing.com, Dubai crude the benchmark for the country's oil prices settled at USD114.95 per barrel as o
MANILA - Oil companies will increase pump prices for the ninth straight week on Tuesday morning. In separate advisories, Caltex, Cleanfuel, Jetti, Petro Gazz, Seaoil, and Shell said they will raise diesel prices by PHP0.80 per liter and gasoline by PHP0.90 per liter. Caltex, Seaoil, and Shell will also hike kerosene prices by PHP0.75 per liter. With the non-stop price increase on petroleum products, year-to-date increments for gasoline stood at PHP8.75 per liter, PHP10.85 per liter for diesel, and PHP9.55 per liter for kerosene. Tensions between Russia and Ukraine further escalated late last week, which continue to affect global oil supply and prices. But this was tamed by the potential return of Iranian barrels in the global oil market. "The International Energy Agency (IEA), in its latest report raised its 2022 demand outlook to 100.6 million barrels per day from (a) prior estimate of 99.7 million barrels per day while supply from OPEC+ remains tight. Spare capacity continues to
The Ambassador attended the Nallur Kadaswamy temple wearing a white dhoti called Vetti but no shirt or footwear with it ,as is customary in Jaffna Tamil.
(PNA file photo) MANILA -Around 78,000 operators of public utility jeepneys (PUJ) have received their one-time fuel subsidy from the government's PHP1 billion fuel subsidy program. During the program's formal launch on Wednesday, Land Transportation Franchising and Regulatory Board (LTFRB) - National Capital Region (NCR) Regional Director Zona Russet Tamayo said PHP7,200 were remitted to the beneficiaries through their existing "Pantawid Pasada Program (PPP)" cards from Land Bank of the Philippines (LandBank). "'Yun pong merong existing PPP cards, they have to check po sa ATM nila 'yung account balance (Those who have existing PPP cards, they have to check their balance at the ATM). Again, we would like to put emphasis that this should be used for fuel purchases," Tamayo said. The funds are to be used to purchase fuel from participating gas stations including Petron, Shell, Seaoil, Total, Jetti, Rephil, Caltex, Petro Gazz, and Unioil. In total, aroun