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fuel price hikes

DOF opposes move to remove VAT from fuel

The Department of Finance (DOF) is opposing a bill at the Senate that aims to make fuel cheaper by removing the value added tax (VAT) on petroleum products. Senator Aquilino “Kiko” Pimentel filed in January Senate Bill…

Palace: It’s a go for fuel tax hike

Malacañang is supporting the decision of government economic managers to push through with the second round of fuel tax increases next month. Presidential spokesperson Salvador Panelo said the economic managers had their reasons for withdrawing their initial…

As global oil prices drop, gov’t reviews temporary excise tax halt

CLARK – Amid declining global prices, the government is reviewing the temporary suspension of the scheduled hike in oil excise taxes early next year even as it was already green-lighted by President Rodrigo Duterte, Finance Secretary Carlos…

Gov’t ready to suspend excise tax on fuels

The government is set to suspend the excise taxes on fuels in case global oil prices average above $80 a barrel for three straight months. An interagency committee would issue in the next few weeks the guidelines…

Higher fuel prices add to burden of consumers

Pump prices of oil products went up for the eighth time in as many weeks, increasing by up to P1.35 a liter on Tuesday, the biggest jump over the past two months that pushed fuel prices to…

Diesel, gasoline pump prices up anew

Oil firms on Monday raised pump rates after two weeks of price cuts as producers regained their bullish sentiments, pushing up global prices. Starting 6 a.m., prices of diesel went up by 85 centavos per liter while…

Senators warn P6 tax on fuel inflationary

The government proposal to impose excise taxes on fuel could lead to price increases that would burden poor Filipinos, two senators said on Sunday. Sen. Sonny Angara, chair of the Senate ways and means committee, said the…

Oil firms jack up pump prices

Pump prices of petroleum products went up today (Tuesday) after three straight weeks of decline as the global glut was deemed to have been easing. Local oil firms raised prices as early as midnight of Tuesday, with…

Oil prices rally as OPEC discusses output cut

VIENNA  — The price of oil is rallying as OPEC countries discuss how to cut the cartel’s production levels and support the market. The international benchmark for crude oil, Brent, was up $2.37 at $48.75 a barrel…

Oil firms cut gasoline, hike diesel prices

LOCAL oil firms cut gasoline prices but raised the cost of diesel and kerosene at the pump, continuing the price trend set last week. Shell and Seaoil implemented a rollback for gasoline of 25 centavos per liter…