Fuel

Oil price goes negative as demand collapses; stocks dip

NEW YORK  — Oil futures plunged below zero on Monday, the latest never-before-seen number to come out of the economic coma caused by the coronavirus pandemic. Stocks and Treasury yields also dropped on Wall Street, with the…

Fuel price rollbacks no excuse to drive inefficiently

If there’s the saying, “money comes and goes,” then we could also say, “prices go up and down.” It’s another way of saying all things–good or bad–will pass. That’s why the latest round of fuel price rollbacks…

Select Seaoil stations to slash prices on June 11

SEAOIL Philippines, Inc. said a one-day-only promo will allow its customers to get a P5 discount for every liter of diesel or gasoline fill-up at Seaoil service stations in Del Monte, Quezon City; G. Araneta Avenue, Quezon…

Uy’s Phoenix Petroleum to issue P2-B preferred shares

  Phoenix Petroleum Philippines Inc. is issuing P2 billion worth of preferred shares to raise funds for its expenses and operational needs. Phoenix yesterday said its board had approved the subscription of 2 million preferred shares by…

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…

Small is powerful: EcoBoost powers new EcoSport

Given today’s driving conditions—traffic congestion, limited parking spaces, and steadily increasing fuel prices—it’s no stretch to say that many drivers would say “small is beautiful.”…

Gov’t misses target to bring in ‘cheaper’ diesel

The government’s target to bring in “cheaper,” imported diesel by the end of the month will not be met, according to Energy Secretary Alfonso Cusi. Even then, Cusi said in an interview there were at least two…

Bam Aquino calls for urgent review of Train law amid soaring inflation

Senator Bam Aquino urged his colleagues on Monday to review the Tax Reform for Acceleration and Inclusion (Train) Law amid the country’s inflation rate shooting up to 4.3 percent in March that had Filipinos dealing with rocketing…

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…

DOF: Fuel marking to generate P20-billion additional revenues

The fuel marking system to be implemented early next year as part of the first tax reform package will generate P20 billion in additional revenues for the government and combat oil smuggling, Department of Finance officials said.…