philippine news

Jul 15, 20080

Task force created to probe oil firms’ pricing practices

Euan Paulo C. Añonuevo
Manila Times

The government has organized a taskforce that will monitor oil firms’ price adjustments in light of the soaring price of crude in the world market.

In a statement, the Department of Energy said the … Read the rest

Jul 15, 20080

DOE, DOJ beef up task force vs oil cartel

Philippine Star

The Department of Energy (DOE) and the Department of Justice (DOJ) have agreed to impose stricter rules on oil companies in a move to protect the public from “cartelization” practices and unreasonable oil pricing.

The DOE and the … Read the rest

Jul 5, 20080

Cut growth

Alex Magno
Philippine Star

It’s pretty much like tearing off a limb to save one’s life.

In the face of galloping inflation driven by unabated oil price increases, most economies have taken defensive measures by choosing to cut growth. The … Read the rest

Jun 28, 20080

Oil hikes past $140/bbl; local prices breach P60 per liter

Philippine Daily Inquirer, Reuters, Associated Press

NEW YORK–Oil prices surged nearly 4 percent to a record above $140 a barrel on Thursday after Libya said it was studying possible options to cut output in response to potential United States action … Read the rest

Jun 28, 20081

Oil companies behind smear drive vs. biofuels – Sen. Zubiri

Efren L. Danao, Senior Reporter
Manila Times

Sen. Juan Miguel Zubiri charged that oil firms are behind the increasing attack on the government’s biofuels program by raising fears on its supposedly adverse effects on food production.

Zubiri, principal author of … Read the rest

May 12, 20080

Sticker shock: Oil firms eye P7 increase per liter

Roderick dela Cruz
Manila Standard

OIL companies are set to increase pump prices by P7 per liter over the next few weeks as global prices hit a record high above $126 over the weekend.

“Our under-recoveries are increasing. If we … Read the rest

May 11, 20080

Pump prices up anew

Donnabelle Gatdula
Philippine Star

Motorists woke up yesterday to another weekend of more expensive fuel as oil firms raised their pump prices by P1 more per liter in response to global crude costs hitting new record levels.

It was the … Read the rest

Apr 17, 20080

Oil surges to new record high of $114

Philippine Star

SINGAPORE (AP) – Oil prices steadied Wednesday above $113 a barrel after setting a new record overnight on growing concerns about insufficient global supply.

Oil surged to an all-time high of $114.08 a barrel on Tuesday after a … Read the rest

Apr 17, 20080

Oil, rice jump to record highs

Glenys Sim and Catherine Yang
Manila Standard

RICE climbed to a record for a second day as the Philippines, the world’s biggest importer, sought to buy 1 million metric tons and floods delayed planting in the US, increasing concern that … Read the rest

Mar 18, 20080

Oil price hits record high of $111.42 per barrel

Philippine Star

SINGAPORE (AP) — Oil prices jumped to an all–time trading high Monday in Asia as the tumbling US dollar and plunging stock markets prompted investors to seek shelter in commodities.

Investors fled the dollar after a surprise move … Read the rest

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