Downstream Oil Industry

Risk of allowing DOE to meddle in fuel import business cited

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It’s not a good idea – economist

A Cebu-based economist has warned the government about the risk of allowing a government agency to meddle in the business of importing fuel as a solution to mitigate the impact of the country’s high inflation rate.

It will be prone to corruption, according to Cebuano economist and Cebu Daily News columnist Fernando “Perry” Fajardo.


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Nagbabadya na naman ang price increase sa mga produktong petrolyo, ngayong linggo.

Ayon sa mga source mula sa Department of Energy o DOE, maglalaro sa dalawampu (P0.20) hanggang tatlumpung sentimos (P0.30) ang dagdag presyo sa kada litro ng diesel.

Lima (P0.05) hanggang sampung sentimos (P0.10) sa gasolina habang limang sentimos (P0.05) o posibleng hindi gumalaw ang presyo ng kerosene o gaas.

Phoenix leads pump price hike

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The country’s oil firms are increasing domestic pump prices by P0.25 per liter for diesel and P0.15 per liter for gasoline effective Tuesday to reflect the movement of world oil prices.

“Phoenix Petroleum Philippines will increase the prices of gasoline by P0.15 per liter and diesel by P0.25 per liter, effective 6 am of Aug. 14,” the oil firm said.

The companies did not move kerosene prices.

Other oil firms raising prices were PTT Philippines, Seaoil Philippines, Eastern Petroleum and Flying V, while other companies are expected to follow.

Oil firms hike diesel, gas prices

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OIL companies increased the price of diesel and gasoline by 25 centavos and 15 centavos per liter, respectively, effective Tuesday.

No adjustment was made in the price of kerosene.

Caltex, Eastern Petroleum, Flying V, Jetti Petroleum, Petro Gazz, Phoenix Petroleum, Pilipinas Shell, PTT Philippines, and Seaoil adjusted their pump prices at 6 a.m.

Firms push for incentives as they explore oil and gas

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PXP Energy Corp. joined the Petroleum Association of the Philippines in asking the government to retain the tax incentives for the oil and gas industry amid the search for the next Malampaya gas field.

The PAP said it wanted the Presidential Decree 87 that promoted the discovery and production of indigenous petroleum to be excluded from the proposed Package 2 of the Tax Reform for Acceleration and Inclusion  law.

Package 2 of the Train law aims to streamline the tax incentives given to companies and reduce the corporate income tax to 25 percent from 30 percent.


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