THE construction of a fuel depot in the South Road Properties in Cebu City may reduce fuel prices by up to P20 per liter, a disaster management official said Wednesday, June 22, 2022, amid the successive fuel price hikes in the country.Lawyer Gerardo Carillo, chairman of the Cebu City Disaster Risk Reduction and Management Council, […]
Tag: prices
Cebu transport groups nix fare hike, but seek gov’t, commuters’ help
TRANSPORT groups in Cebu are not keen on asking for an increase in the minimum fare of public utility vehicles (PUVs) amid the high fuel prices, with one group demanding other types of intervention from the government instead.The Pinagkaisang Samahan ng mga Tsuper at Operator Nationwide (Piston) Cebu chapter has urged the Cebu City Government […]
Motorists brace for another fuel price hike this week
DIESEL, gasoline, and kerosene prices are expected to increase anew in the coming week, industry estimates showed, marking the third straight week of hikes.Based on its fuel forecast for June 21-27, 2022, Unioil said diesel will increase by P2.50 to P2.60 per liter, while gasoline will increase by P0.50 to P0.60 per liter.Kerosene prices are […]
Pump prices of Diesel, Gasoline to surge anew
MOTORISTS could see another round of big-time hikes in fuel prices this coming week, based on oil industry projections, as global oil prices continue to soar due to the Ukraine-Russia conflict.In its fuel price forecast for June 14 to 20 trading week, Unioil said the price per liter of diesel may surge by P4.30 to […]
Opec, allies to raise production of oil as energy prices soar
THE Organization of the Petroleum Exporting Countries (Opec) oil cartel and allied producing countries including Russia will raise production by 648,000 barrels per day in July and August, offering modest relief for a global economy suffering from soaring energy prices.The cost of oil, which began to rise sharply to start of the year, spiked after […]
May inflation to settle within range of 5% to 5.8%
THE Bangko Sentral ng Pilipinas has projected May 2022 inflation to settle within the range of five to 5.8 percent.“The continued increase in domestic petroleum prices, higher prices of key food items, and peso depreciation are the primary sources of inflationary pressures during the month,” the BSP said Tuesday,May 31, 2022.But the central bank noted […]
Rice giant Thailand wants to coordinate price hikes with Vietnam
THAILAND AND VIETNAM should jointly raise rice prices to boost their bargaining power in the global market, according to Thai premier Prayuth Chan-Ocha, a move that threatens higher food costs for consumers worldwide. Such a step will benefit millions of rice farmers in the two countries who have struggled with rising costs while prices of […]
India’s protectionist moves spark concern rice may be next
RICE may be India’s next food protectionism target after it restricted wheat and sugar exports, analysts say, a move that could have a devastating impact on global food security as it’s an important staple. India’s curbs on wheat and sugar exports sent shock waves through global markets as it marked an escalation in food protectionism that’s […]
Consumers use app to counter record retail fuel prices
Philippine motorcycle enthusiast John Aldwin Bagabagon rode easier than many other local motorcyclists and drivers this year as domestic fuel prices surged to record levels. Mr. Bagabagon, 35, and his family are among 200,000 consumers turning to a homegrown app to secure credits for bulk fuel supplies at low prices, saving about 50% on their […]
Food prices to continue rising on Russian war — MUFG
Officials from the Trade department check the prices of basic goods at a supermarket in Makati City, April 21. — PHILIPPINE STAR/ RUSSELL PALMA THE Russia-Ukraine war may drive food prices even higher in Asian countries, including the Philippines, according to MUFG Global Markets Research. In a note on Monday, MUFG said the war in […]
Soaring prices reach Asia to bring global inflation in sync
THE WORLD is now facing a synchronized inflation outbreak as food and energy prices surge in Asia, a shift from just a few months ago when the region appeared to avoid the price fever gripping the US and parts of Europe. Inflation readings across the region — China, India, Indonesia, the Philippines, Thailand and South […]
Central bank extends key rate pause
By Luz Wendy T. Noble, Reporter THE Philippine central bank kept its key interest rate steady for an 11th straight meeting on Thursday, even as it warned that its inflation target might be breached this year amid surging global oil prices due to Russia’s continued invasion of Ukraine. The Bangko Sentral ng Pilipinas (BSP) left […]
Measures to avert transport strike mulled, as fuel hoarders warned
AS OIL prices stay elevated in the world and local markets, Cebu City officials are scrambling to alleviate the plight of jeepney drivers as they also seek to avert a planned transport strike.This, as the business sector also sounds the alarm on a possible power shortage in the summer if prices continue to stay high.Cebu […]
Households squeezed as US consumer prices accelerate; more pain coming
WASHINGTON — US consumer prices surged in February, forcing Americans to dig deeper to pay for rent, food and gasoline, and inflation is poised to accelerate even further as Russia’s war against Ukraine drives up the costs of crude oil and other commodities. The broad rise in prices reported by the Labor Department on Thursday […]
DTI: No spike in prices of basic goods for 3 months
DESPITE the rising fuel prices in recent weeks, the Department of Trade and Industry in Central Visayas (DTI 7) assured consumers that they will not feel the effects of spikes in the prices of basic necessities anytime soon.In a text message Thursday, March 10, 2022, DTI 7 Director Ma. Elena Arbon said basic necessities and […]
Traders: Brace for higher prices of basic goods amid fuel crisis
CONSUMERS can expect a bigger increase in prices of commodities if the successive oil price hikes in the country are not resolved soon, a business leader warned, as various quarters proposed solutions to the rising fuel prices.Mandaue Chamber of Commerce and Industry (MCCI) president Steven Yu said small increases in prices have already been imposed […]
Senator Marcos urges gov’t to diversify wheat sourcing, develop non-wheat flours
The government needs to diversify the Philippines’ sources of wheat and to explore using other raw materials for flour, to keep rising commodity prices from filtering into inflation, Senator Maria Imelda Josefa Remedios R. Marcos said Friday. “Bread and noodles prices will reflect the volatility of wheat prices caused by the war between Russia and […]
As crude surges to over $100 a barrel, DBCC closely monitoring oil prices
By Luz Wendy T. Noble, Reporter and Jenina P. Ibañez, Senior Reporter GOVERNMENT ECONOMIC managers are keeping a close eye on oil price hikes as Brent crude surged over $100 for the first time since 2014 on Thursday after Russia’s attack on Ukraine, offering assistance to sectors affected most by the crisis. “The Development Budget […]
Singapore home prices surge to highest in more than a decade
SINGAPORE home prices rose in the fourth quarter at the fastest pace in more than a decade, the latest marker of a surge that prompted the government to introduce cooling measures last month. Private property values climbed 5% from the previous quarter, according to Urban Redevelopment Authority flash estimates released on Monday. That’s the highest […]
Analysts’ December 2021 inflation rate estimates
HEADLINE INFLATION probably slowed in December as fuel retailers reduced prices, although holiday demand and the impact of Typhoon Odette may have caused a faster rise in food prices, according to analysts. Read the full story.