Sign up | Log in



Home  >>   Daily News  >>   Philippines  News  >>   Energy  >>   Philippines may freeze oil prices
NEWS UPDATES Asean Affairs        21  April 2011

Philippines may freeze oil prices

Related Stories

April 11, 2011
Philippines public transport fuel subsidy starts

April 5, 2011
Phil. renewable energy developers criticize delay

March  5, 2011
China confronts Philippines South China Sea

January  31, 2011
European solar company eyes Philippines

January  28, 2011
Philippines revives strategic oil reserves plan

The government may resort to an “extreme legal measure” to cushion the effects of steadily rising oil prices – the issuance of an executive order banning further hikes, Justice Secretary Leila de Lima said yesterday.

“Talking about possibilities, there’s always such a possibility of coming up with an executive order freezing the oil prices. If it comes to that, it will basically and primarily be an executive decision or action,” De Lima said.

She said the previous Arroyo administration had resorted to freezing oil price increases in 2009, through Executive Order 839.

De Lima said such a measure would be “legally feasible.”

The DOJ, under the oil deregulation law, has the mandate to ensure that oil price adjustments are reasonable. The Department of Energy (DOE) has the same mandate and performs its task hand in hand with the DOJ.

De Lima’s warning came after the DOE demanded an explanation from oil firms for their price hikes last Tuesday – the 13th this year – after discovering that the last increases were above the agency’s prescribed adjustments based on a similar formula used by local firms. The oil firms have claimed that rising global crude prices prompted them to raise pump prices.

“For now, there is a presumption of regularity or correctness of the successive increases,” De Lima said.

Shell, Chevron and Total announced hikes in the prices of regular gasoline by 70 centavos per liter, unleaded gasoline, 60 centavos; diesel, 25 centavos; and kerosene, 40 centavos, effective 6 a.m. Tuesday. The DOE said the price hikes should have only been P0.16 per liter for diesel and P0.39 for gasoline.

Reach Southeast Asia!
10- Nations, 560- Million Consumers
And $1 -Trillion Market
We are the Voice of Southeast Asia Media Kit
The only Media Dedicated to Southeast Asia Advertising Rates for Magazine
  Online Ad Rates

Comment on this Article. Send them to

Letters that do not contain full contact information cannot be published.
Letters become the property of AseanAffairs and may be republished in any format.
They typically run 150 words or less and may be edited
submit your comment in the box below




1.  Verifier

1. Verifier

For security purposes, we ask that you enter the security code that is shown in the graphic. Please enter the code exactly as it is shown in the graphic.
Your Code
Enter Code

Today's  Stories    21  April 2011 Subsribe Now !
 • Indonesia FDI jumps 12 percent Subcribe: Asean Affairs Global Magazine
• Indonesia won’t reach oil production target Asean Affairs Premium
• Malaysian property prices to rise
Research Reports
on Thailand 2007-2008

•Textiles and Garments Industry

•Coffee industry

•Leather and footwear industry

•Shrimp industry

• Philippines may freeze oil prices
• Singapore satellite launched

• Thai interest rate raised

• Thailand seeks visa deal with China

• Piracy damaging Vietnamese economy p

Asean Analysis    21  April 2011

Advertise Your Brand
• The Mekong River gets a reprieve Sponsor Our Events

Asean Stock Watch    21  April 2011

• Asean Markets will head to record highs p

Global News Impacting Asia    17 November 2010


• Bank of America sees Asian inflation


• Lloyd’s increases insurance push in Malaysia


• Wells Fargo analyst on euro


• Obama’s visit to Asia


ASEAN NEWS UPDATES      Updated: 04 January 2011

 • Women Shariah scholars see gender gap closing
• Bank Indonesia may hold key rate as inflation hits 7 percent

• Bursa Malaysia to revamp business rules
• Private property prices hit new high in Singapore
• Bangkok moves on mass transport
• Thai retailers are upbeat
• Rice exports likely to decline
• Vietnamese PM projects 10-year socioeconomic plan


This year in Thailand-what next?

AseanAffairs   04 January 2011
By David Swartzentruber      

It is commonplace in journalism to write two types of articles at the transition point between the year that has passed and the New Year. As this writer qualifies as an “old hand” in observing Thailand with a track record dating back 14 years, it is time take a shot at what may unfold in Thailand in 2011.

The first issue that can’t be answered is the health of Thailand’s beloved King Bhumibol, who is now 83 years old. He is the world's longest reigning monarch, but elaborate birthday celebrations in December failed to mask concern over his health. More


Home | About Us | Contact Us | Special Feature | Features | News | Magazine | Events | TV | Press Release | Advertise With us

Our Products | Work with us | Terms of Use | Site Map | Privacy Policy | Refund Policy | Shipping/Delivery Policy | DISCLAIMER |

Version 5.0
Copyright © 2007-2015 TIME INTERNATIONAL MANAGEMENT ENTERPRISES CO., LTD. All rights reserved.
Bangkok, Thailand