Petrol prices drop to $2 level, a week after crude oil’s record lows
Pump prices here have fallen by up to six cents a litre, a week after crude oil plunged to record lows. Latest updates by fuel price tracker Fuel Kaki – managed by the Consumers Association of Singapore – showed that the price of 95-octane petrol, the most popular grade here, was $2.04 across all brands by […]
US oil price faces 2nd decrease below zero
The US benchmark oil price could fall below zero for a second time this year, signalling that global oil stocks are nearing full capacity, says one expert. Manoon Siriwan, an independent energy expert, said a second drop below zero for West Texas Intermediate (WTI) crude may occur soon because oil storage capacity in the US is […]
Diesel prices cut by ₱1.80/liter, kerosene by ₱2.15/liter today
Filipinos who are using diesel on their vehicles can enjoy a price rollback of ₱1.80 per liter this week if they happen to be on the road despite the extended enhanced community quarantine (ECQ) in many areas. For kerosene, which is an essential commodity for households and even for industries like aviation, the price cut will […]
Electric co-ops allot P365m as assistance
Electric cooperatives allocated around P365 million to the Pantawid Liwanag, a program that will benefit lifeline or low-income consumers, the Philippine Rural Electric Cooperatives Association said Monday. Philreca, the national association of 121 electric cooperatives throughout the entire Philippines, estimates the Pantawid Liwanag program to initially require at least P250 million before it was increased to […]
Thailand energy commission considering cutting electricity charges to help businesses
As a measure to help hasten business sector recovery, the Energy Regulatory Commission earlier initiated a cut to electricity charges for large and medium-sized enterprises for three months. However, the COVID-19 outbreak situation has not improved and the Energy Regulatory Commission will now consider extending the measure until the end of 2020 to lessen the […]
Lower oil prices hurting China and Southeast Asia
The coronavirus pandemic has squeezed global demand. Sales by Chinese refineries dropped by 20 per cent. Non-tax revenue could drop to US.7 billion in Indonesia. Malaysia could lose up to US.8 billion. Vietnam, Thailand, Singapore and Brunei are also expected to suffer financially.
Singapore utility ends gasoil deal with Hin Leong
Singapore utility Sembcorp Cogen has terminated its gasoil supply and storage agreement with troubled oil trading firm Hin Leong. Under the deal, Hin Leong sold gasoil to the utility and provided storage and management services for the fuel. The agreement had been in place since 2009.
No power shortage during dry season: Ministry
The Ministry of Mines and Energy said there is no shortage of electricity during this year’s dry season as compared to last year. Even so, the ministry said it would continue to boost electricity access in all households across the country by at least 78 percent this year. Speaking in a press conference held at the […]
