Tuesday, February 7, 2023
manilastandard.net
ADVERTISEMENT
  • About
  • News
    • Top Stories
    • National
    • World News
    • Pinoy Abroad
    • Features
  • Opinion
    • Editorial
    • Columns
    • Soundbytes
  • LGUs
    • NCR
    • Luzon
    • Visayas
    • Mindanao
  • Business
    • Corporate
    • Economy & Trade
    • Stocks
    • Money
    • Agri & Mining
    • Power & Tech
    • IT & Telecom
  • Sports
    • Basketball
    • Volleyball
    • Fightsports
    • Active
    • Sports Plus
    • One Championship
    • Columns
  • Entertainment
    • TV & Movies
    • Celebrity Profiles
    • Music & Concerts
    • Digital Media
    • Columns
  • Lifestyle
    • Food
    • Culture & Media
    • Fashion
    • Health and Home
    • Leisure
    • Shopping
    • Columns
  • Others
    • Pets
    • Pop.Life
      • Newsmakers
      • Hangouts
      • A-Pop
      • Post Its
      • Performances
      • Malls & Bazaars
      • Hobbies & Collections
    • Technology
      • Gadgets
      • Computers
      • Business
      • Tech Plus
    • MS ON THE ROAD
      • Sedan
      • SUV
      • Truck
      • Bike
      • Accessories
      • Motoring Plus
      • Commuter’s Corner
    • Home & Design
      • Residential
      • Commercial
      • Construction
      • Interior
    • Spotlight
    • Gallery
      • Photos
      • Videos
    • Events
      • Seminars
      • Exhibits
      • Community
    • Biyahero
      • Travel Features
      • Travel Reels
      • Travel Logs
  • Advertise with Us
No Result
View All Result
  • About
  • News
    • Top Stories
    • National
    • World News
    • Pinoy Abroad
    • Features
  • Opinion
    • Editorial
    • Columns
    • Soundbytes
  • LGUs
    • NCR
    • Luzon
    • Visayas
    • Mindanao
  • Business
    • Corporate
    • Economy & Trade
    • Stocks
    • Money
    • Agri & Mining
    • Power & Tech
    • IT & Telecom
  • Sports
    • Basketball
    • Volleyball
    • Fightsports
    • Active
    • Sports Plus
    • One Championship
    • Columns
  • Entertainment
    • TV & Movies
    • Celebrity Profiles
    • Music & Concerts
    • Digital Media
    • Columns
  • Lifestyle
    • Food
    • Culture & Media
    • Fashion
    • Health and Home
    • Leisure
    • Shopping
    • Columns
  • Others
    • Pets
    • Pop.Life
      • Newsmakers
      • Hangouts
      • A-Pop
      • Post Its
      • Performances
      • Malls & Bazaars
      • Hobbies & Collections
    • Technology
      • Gadgets
      • Computers
      • Business
      • Tech Plus
    • MS ON THE ROAD
      • Sedan
      • SUV
      • Truck
      • Bike
      • Accessories
      • Motoring Plus
      • Commuter’s Corner
    • Home & Design
      • Residential
      • Commercial
      • Construction
      • Interior
    • Spotlight
    • Gallery
      • Photos
      • Videos
    • Events
      • Seminars
      • Exhibits
      • Community
    • Biyahero
      • Travel Features
      • Travel Reels
      • Travel Logs
  • Advertise with Us
No Result
View All Result
manilastandard.net
No Result
View All Result
Home News

Good news still: Oil price rollback next week

Alena Mae S. FloresbyAlena Mae S. Flores
September 10, 2022, 1:00 am
in News, Top Stories
Reading Time: 2 mins read
A A
Share on FacebookShare on TwitterShare on Email

The country’s oil firms are expected to cut pump prices on Tuesday by as much as P1.70 per liter to reflect the movement of prices in the world market, an energy official said Friday.

Rodela Romero, Director III of the Department of Energy’s Oil Industry Management Bureau, said the indicative price adjustment per liter for the week of Sept. 13 showed a rollback in pump prices across all products.

“Based on MOPS (Mean of Platts Singapore), not included in the cost of doing business of oil companies and for four-day trading only. Rollback for gasoline of P0.30 to P0.70 per liter, automotive diesel oil (ADO) at P1 to P1.50 per liter, and kerosene at P1.25 to P1.70 per liter,” Romero said.

She said the price movement might still change based on Friday’s trading and oil companies operating costs.

The rollback would have been bigger if not for the peso’s current weakness against the US dollar, as the local currency has slid to record lows recently, and the world market is not “biting” into the small output cut by the Organization of the Petroleum Exporting Countries (OPEC) and its allies this week, DOE officials added.

ADVERTISEMENT

“The reasons (for the decline) are the weakening demand due to China’s lockdowns and prospects of more interest rate hikes,” Romero said.

On September 6, the oil companies implemented a per liter decrease in gasoline by P2.60, diesel by P1.55, and P1.60 for kerosene.

These resulted in the total year-to-date adjustments at a net increase of P16.95 per liter for gasoline, P36.25 per liter for diesel, and P31.60 per liter for kerosene.

World oil prices softened in the past two weeks due to the weaker global demand outlook after China escalated COVID-19 curbs and US Federal Reserve officials signaled further interest rate hikes amid global recession fears.

Chinese authorities imposed stricter lockdowns in several major cities to contain an outbreak of coronavirus.

The OPEC+ producers’ meeting held on Sept. 5 also influenced the movement of prices.

Tags: Department of EnergyOil Industry Managementoil priceprice rollbackRodela Romero
ADVERTISEMENT
Alena Mae S. Flores

Alena Mae S. Flores

Related Posts

CHR probes rape cases in Laguna, Cavite

byRio N. Araja
February 7, 2023, 10:10 pm
0
8
CHR probes fatal shooting of teenager

The Commission on Human Rights (CHR) regional office in Calabarzon is now conducting a motu proprio probe into two separate...

Read more

DENR-EMB seeks zero waste goal

byRio N. Araja
February 7, 2023, 10:05 pm
0
8
DENR-2 beefs up solid waste drive

The Department of Environment and Natural Resources (DENR) is urging the public to be part of the solution to take...

Read more

MMDA tests EDSA stop-go traffic scheme

byJoel E. Zurbano
February 7, 2023, 10:00 pm
0
8
MMDA prepares for road closure

The Metropolitan Manila Development Authority (MMDA) on Tuesday enforced a four-day Stop-and-Go Traffic Scheme along Epifanio de los Santos Avenue...

Read more

UnionBank’s SRO

byManila Standard
February 7, 2023, 9:52 pm
0
8
Google to release Bard chatbot to rival ChatGPT’s app

Union Bank of the Philippines concludes its P12-billion stock rights offering with the listing of its shares at the Philippine...

Read more

Cignal best player

byManila Standard Sports
February 7, 2023, 9:08 pm
0
8
National MILO Marathon returns March 26 at MOA concert grounds

San Miguel Beer’s CJ Perez registered 17.0 points, 7.7 rebounds, and 4.7 assists in a three-game stretch, thus gaining the...

Read more

UN chief fears world headed for ‘wider war’ over Ukraine

byAngelica Villanueva
February 7, 2023, 6:40 pm
0
8
UN chief fears world headed for ‘wider war’ over Ukraine

United Nations chief Antonio Guterres warned nations Monday that he fears the likelihood of further escalation in the Russia-Ukraine conflict...

Read more

Print Edition

View More

Recent Posts

  • CHR probes rape cases in Laguna, Cavite
  • DENR-EMB seeks zero waste goal
  • MMDA tests EDSA stop-go traffic scheme
  • UnionBank’s SRO
  • Cyberpark 3 project
  • Cignal best player
  • Yulo, Obiena, Filipinas lead PSA’s 2022 major awardees
  • Eala won’t play in 32nd SEA Games

Advertisement

Latest News

Cignal best player

byManila Standard Sports
February 7, 2023, 9:08 pm
0
8
National MILO Marathon returns March 26 at MOA concert grounds

San Miguel Beer’s CJ Perez registered 17.0 points, 7.7 rebounds, and 4.7 assists in a three-game stretch, thus gaining the...

Read more

Yulo, Obiena, Filipinas lead PSA’s 2022 major awardees

byManila Standard Sports
February 7, 2023, 8:55 pm
0
8
Arcilla foils Seno, bags Naga Open tennis title

World Championship medalists Carlos Yulo and EJ Obiena, along with history maker Philippine women’s football team will be the recipient...

Read more

Eala won’t play in 32nd SEA Games

byPeter Atencio
February 7, 2023, 8:50 pm
0
8
Spain legend Pau Gasol named Global Ambassador for FIBA World Cup

For now, playing in the 32nd Southeast Asian Games is not part of the plans of Filipina tennis star Alex...

Read more

Palarong Pambansa to reopen on July 29 with new format

byManila Standard Sports
February 7, 2023, 8:45 pm
0
8

By Peter Atencio After getting shelved for almost three years, the Palarong Pambansa is coming back and will have a...

Read more

Remulla named Chef de Mission to Paris Olympics

byManila Standard Sports
February 7, 2023, 8:40 pm
0
8
National MILO Marathon returns March 26 at MOA concert grounds

The Philippine Olympic Committee announced on Tuesday the appointment of Cavite Governor Jonvic Remulla as Team Philippines Chef de Mission...

Read more

Advertisement

ADVERTISEMENT
Facebook Twitter Instagram Youtube

ABOUT US

Manila Standard

Manila Standard website (manilastandard.net), launched in August 2002, extends the newspaper’s reach beyond its traditional readers and makes its brand of Philippine news and opinion available to a much wider and geographically diverse readership here and overseas.

Digital Edition

In tone and content, the online edition mirrors the editorial thrust of the newspaper. While hewing to the traditional precepts of fairness and objectivity, MS believes the news of the day need not be staid, overly long or dry. Stories are succinct, readable and written in a lively style that has become a hallmark of the newspaper.

Download – Today’s Paper

Search

No Result
View All Result

6th Floor Universal Re Bldg., 106 Paseo De Roxas cor. Perea Street, Legaspi Village, 1226 Makati City Philippines

Trunklines: 832-5554, 832-5556, 832-5558

© 2021 Manila Standard - Designed and Developed by Neitiviti Studios.

No Result
View All Result
  • About
  • News
    • Top Stories
    • National
    • World News
    • Pinoy Abroad
    • Features
  • Opinion
    • Editorial
    • Columns
    • Soundbytes
  • LGUs
    • NCR
    • Luzon
    • Visayas
    • Mindanao
  • Business
    • Corporate
    • Economy & Trade
    • Stocks
    • Money
    • Agri & Mining
    • Power & Tech
    • IT & Telecom
  • Sports
    • Basketball
    • Volleyball
    • Fightsports
    • Active
    • Sports Plus
    • One Championship
    • Columns
  • Entertainment
    • TV & Movies
    • Celebrity Profiles
    • Music & Concerts
    • Digital Media
    • Columns
  • Lifestyle
    • Food
    • Culture & Media
    • Fashion
    • Health and Home
    • Leisure
    • Shopping
    • Columns
  • Pop.Life
    • Newsmakers
    • Hangouts
    • A-Pop
    • Post Its
    • Performances
    • Malls & Bazaars
    • Hobbies & Collections
  • Technology
    • Gadgets
    • Computers
    • Business
    • Tech Plus
  • MS ON THE ROAD
    • Sedan
    • SUV
    • Truck
    • Bike
    • Accessories
    • Motoring Plus
    • Commuter’s Corner
  • Home & Design
    • Residential
    • Commercial
    • Construction
    • Interior
  • Spotlight
  • Gallery
    • Photos
    • Videos
  • Events
    • Seminars
    • Exhibits
    • Community
  • Biyahero
    • Travel Features
    • Travel Reels
    • Travel Logs
  • Pets
  • Advertise with Us

© 2021 Manila Standard - Designed and Developed by Neitiviti Studios.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Install Manila Standard Web App

Install App