The oil companies similarly advised on a price reduction of P0.70 per liter for kerosene products, which will take financial load off slightly from affected industries, including the airlines.
The industry players are adjusting their prices by mainly anchoring it on the cost swings of the Mean of Platts Singapore index, but in recent weeks, the falling value of the Philippine peso had likewise been significantly influencing pump price movements, hence, the final rollbacks implemented ending up leaner.
From a seesaw of massive upticks and slight declines in the previous months, domestic pump prices had been substantially slashed in the past two weeks – and that somehow provided much needed ‘consolation’ to the Filipino consumers’ pockets – especially the public utility vehicle drivers who have been endlessly complaining about slump on their daily take-home pay.
Fundamentals in the world market are still focused on the lens of a jittery situation because of economic recession fears; as well as the new wave of Covid-19 lockdowns in some parts of China; plus the niggling impact of the protracted Russia-Ukraine war.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Oil firms cut pump prices anewOil companies announced on Monday another significant cut in their pump prices.Pilipinas Shell, Cleanfuel and PetroGazz said they will lower gasoline prices by P5 per liter and...
Source: TheManilaTimes - 🏆 2. / 92 Read more »
Another fuel price rollback to take effect TuesdayPump prices of petroleum products will be rolled back on Tuesday, July 19, marking the third straight week of price cuts. Yan ang masterpiece ni Marcos Sr na remember ko,sabi ko eh
Source: gmanews - 🏆 11. / 68 Read more »
Supermarkets see goods not subject to price controls becoming more expensive - BusinessWorld OnlineSUPERMARKETS said prices are rising for goods not subject to government price ceilings. READ:
Source: bworldph - 🏆 9. / 68 Read more »
Salceda pitches P2.25-T infra program for Marcos admin: ‘It’s bigger than Build, Build, Build'Albay 2nd district Rep. Joey Salceda, has proposed a “Build, Build More” infrastructure program for the Marcos administration that would amount to some P2.25 trillion in spending by the end of the President’s term. Pump priming as a strategy sounds good. As long as Build, Build More doesn’t turn out as Bulsa, Bulsa More. I hope BBB big ticket projects is spread to every province and city, not just in Luzon. Albay rep. Joey Salceda proposes a bolder & broader economic stimulus in the form of P2.25 trillion in infra projects encompassing PBMM's entire term.
Source: manilabulletin - 🏆 25. / 51 Read more »
RE company Alternergy files for P2.18-B IPO - BusinessWorld OnlinePOWER company Alternergy Holdings Corp. recently filed an application for an initial public offering (IPO) with the Securities and Exchange Commission to raise up to P2.18 billion, which will be used in part for its renewable energy (RE) projects.
Source: bworldph - 🏆 9. / 68 Read more »
P2.1-M smuggled cigarettes intercepted in Davao CitySmuggled cigarettes valued at P2.1 million were intercepted at the Barangay Sirawan checkpoint in Toril District here before dawn Sunday, July 17.
Source: manilabulletin - 🏆 25. / 51 Read more »