Summary
A report on the consecutive weekly fuel price hikes in the Philippines, proposed excise tax suspensions, and the electricity supply issues in the Visayas and Mindanao regions.
Highlights
Fuel Price Hike Impact00:00:00
TNVS drivers and commuters are struggling as fuel prices increase for the second consecutive week, with total hikes exceeding 9 pesos for diesel and 10 pesos for gasoline.
Proposed Excise Tax Adjustments00:01:15
There are calls to suspend excise taxes on fuel products to lower costs, though the Finance Department currently only supports suspension for LPG and kerosene, excluding gasoline and diesel.
Electricity Market Price Adjustments00:02:14
The Energy Regulatory Commission ordered a recalculation of power rates in Visayas and Mindanao following record-high prices in the spot market, while investigating potential market manipulation.
Power Supply and Brownouts00:03:24
The Visayas grid is facing a red alert due to power plant outages, resulting in rotational brownouts across the region as over 1,000 megawatts of power are lost.