Loading…

Big oil firms put off fuel price hikes

He also noted that the price of Asian Dubai crude in May was only $25.57 per barrel while the average to date is $26.69 per barrel, for a difference of $1.12 per barrel. Also, the foreign exchange rate in May was around P50.53 to $1. Now, it is P51.58 to $1, he added. "There is something very i...

Full description

Saved in:

Bibliographic Details
Published in:	Business world (San Juan, Philippines) Philippines), 2001-06, p.1
Main Author:	EVANGELINE L. MOISES AND CATHY ROSE A. GARCIA
Format:	Article
Language:	English
Subjects:	Corporate profits Crude oil Crude oil prices Energy economics Herrera, Ernesto F Perez, Vincent Price increases
Online Access:	Get full text
Tags:	Add Tag No Tags, Be the first to tag this record!

cited_by
cites
container_end_page
container_issue
container_start_page	1
container_title	Business world (San Juan, Philippines)
container_volume
creator	EVANGELINE L. MOISES AND CATHY ROSE A. GARCIA
description	He also noted that the price of Asian Dubai crude in May was only $25.57 per barrel while the average to date is $26.69 per barrel, for a difference of $1.12 per barrel. Also, the foreign exchange rate in May was around P50.53 to $1. Now, it is P51.58 to $1, he added. "There is something very irregular here. To begin with, these oil companies are supposed to have a crude oil inventory good for 90 days. So they cannot just increase the pump prices based on recent increases in the cost of crude oil in the world market - Right now, they are still selling fuel products from crude oil shipments that were imported three months ago," Mr. [Eduardo R. Gullas] said. Bohol Rep. Ernesto F. Herrera is also calling for an investigation, saying that Petron Corp., Pilipinas Shell Petroleum Corp. and Caltex Phils., Inc. cannot claim to be losing money. Documents at the Securities and Exchange Commission (SEC) show otherwise, he said.
format	article
fullrecord	<record><control><sourceid>proquest</sourceid><recordid>TN_cdi_proquest_reports_233885526</recordid><sourceformat>XML</sourceformat><sourcesystem>PC</sourcesystem><sourcerecordid>74204320</sourcerecordid><originalsourceid>FETCH-proquest_reports_2338855263</originalsourceid><addsrcrecordid>eNpjYeA0MDQ00zW2NDbgYOAqLs4yMDC0MDE14WRQc8pMV8jPzFFIyyzKLVYoKC1RyE9LU0grTc1RKCjKTE5VyMjMTi3mYWBNS8wpTuWF0twMim6uIc4eugVF-YWlqcUl8UWpBflFJcXxRsbGFhampkZmxsSoAQDWGC0A</addsrcrecordid><sourcetype>Aggregation Database</sourcetype><iscdi>true</iscdi><recordtype>article</recordtype><pqid>233885526</pqid></control><display><type>article</type><title>Big oil firms put off fuel price hikes</title><source>Nexis UK</source><creator>EVANGELINE L. MOISES AND CATHY ROSE A. GARCIA</creator><creatorcontrib>EVANGELINE L. MOISES AND CATHY ROSE A. GARCIA</creatorcontrib><description>He also noted that the price of Asian Dubai crude in May was only $25.57 per barrel while the average to date is $26.69 per barrel, for a difference of $1.12 per barrel. Also, the foreign exchange rate in May was around P50.53 to $1. Now, it is P51.58 to $1, he added. "There is something very irregular here. To begin with, these oil companies are supposed to have a crude oil inventory good for 90 days. So they cannot just increase the pump prices based on recent increases in the cost of crude oil in the world market - Right now, they are still selling fuel products from crude oil shipments that were imported three months ago," Mr. [Eduardo R. Gullas] said. Bohol Rep. Ernesto F. Herrera is also calling for an investigation, saying that Petron Corp., Pilipinas Shell Petroleum Corp. and Caltex Phils., Inc. cannot claim to be losing money. Documents at the Securities and Exchange Commission (SEC) show otherwise, he said.</description><identifier>ISSN: 0116-3930</identifier><language>eng</language><publisher>Manila: The Financial Times Limited</publisher><subject>Corporate profits ; Crude oil ; Crude oil prices ; Energy economics ; Herrera, Ernesto F ; Perez, Vincent ; Price increases</subject><ispartof>Business world (San Juan, Philippines), 2001-06, p.1</ispartof><rights>Copyright Financial Times Information Limited Jun 18, 2001</rights><woscitedreferencessubscribed>false</woscitedreferencessubscribed></display><links><openurl>$$Topenurl_article</openurl><openurlfulltext>$$Topenurlfull_article</openurlfulltext><thumbnail>$$Tsyndetics_thumb_exl</thumbnail><link.rule.ids>314,780,784</link.rule.ids></links><search><creatorcontrib>EVANGELINE L. MOISES AND CATHY ROSE A. GARCIA</creatorcontrib><title>Big oil firms put off fuel price hikes</title><title>Business world (San Juan, Philippines)</title><description>He also noted that the price of Asian Dubai crude in May was only $25.57 per barrel while the average to date is $26.69 per barrel, for a difference of $1.12 per barrel. Also, the foreign exchange rate in May was around P50.53 to $1. Now, it is P51.58 to $1, he added. "There is something very irregular here. To begin with, these oil companies are supposed to have a crude oil inventory good for 90 days. So they cannot just increase the pump prices based on recent increases in the cost of crude oil in the world market - Right now, they are still selling fuel products from crude oil shipments that were imported three months ago," Mr. [Eduardo R. Gullas] said. Bohol Rep. Ernesto F. Herrera is also calling for an investigation, saying that Petron Corp., Pilipinas Shell Petroleum Corp. and Caltex Phils., Inc. cannot claim to be losing money. Documents at the Securities and Exchange Commission (SEC) show otherwise, he said.</description><subject>Corporate profits</subject><subject>Crude oil</subject><subject>Crude oil prices</subject><subject>Energy economics</subject><subject>Herrera, Ernesto F</subject><subject>Perez, Vincent</subject><subject>Price increases</subject><issn>0116-3930</issn><fulltext>true</fulltext><rsrctype>article</rsrctype><creationdate>2001</creationdate><recordtype>article</recordtype><recordid>eNpjYeA0MDQ00zW2NDbgYOAqLs4yMDC0MDE14WRQc8pMV8jPzFFIyyzKLVYoKC1RyE9LU0grTc1RKCjKTE5VyMjMTi3mYWBNS8wpTuWF0twMim6uIc4eugVF-YWlqcUl8UWpBflFJcXxRsbGFhampkZmxsSoAQDWGC0A</recordid><startdate>20010618</startdate><enddate>20010618</enddate><creator>EVANGELINE L. MOISES AND CATHY ROSE A. GARCIA</creator><general>The Financial Times Limited</general><scope>KB~</scope></search><sort><creationdate>20010618</creationdate><title>Big oil firms put off fuel price hikes</title><author>EVANGELINE L. MOISES AND CATHY ROSE A. GARCIA</author></sort><facets><frbrtype>5</frbrtype><frbrgroupid>cdi_FETCH-proquest_reports_2338855263</frbrgroupid><rsrctype>articles</rsrctype><prefilter>articles</prefilter><language>eng</language><creationdate>2001</creationdate><topic>Corporate profits</topic><topic>Crude oil</topic><topic>Crude oil prices</topic><topic>Energy economics</topic><topic>Herrera, Ernesto F</topic><topic>Perez, Vincent</topic><topic>Price increases</topic><toplevel>online_resources</toplevel><creatorcontrib>EVANGELINE L. MOISES AND CATHY ROSE A. GARCIA</creatorcontrib><collection>ProQuest Newsstand Professional</collection><jtitle>Business world (San Juan, Philippines)</jtitle></facets><delivery><delcategory>Remote Search Resource</delcategory><fulltext>fulltext</fulltext></delivery><addata><au>EVANGELINE L. MOISES AND CATHY ROSE A. GARCIA</au><format>journal</format><genre>article</genre><ristype>JOUR</ristype><atitle>Big oil firms put off fuel price hikes</atitle><jtitle>Business world (San Juan, Philippines)</jtitle><date>2001-06-18</date><risdate>2001</risdate><spage>1</spage><pages>1-</pages><issn>0116-3930</issn><abstract>He also noted that the price of Asian Dubai crude in May was only $25.57 per barrel while the average to date is $26.69 per barrel, for a difference of $1.12 per barrel. Also, the foreign exchange rate in May was around P50.53 to $1. Now, it is P51.58 to $1, he added. "There is something very irregular here. To begin with, these oil companies are supposed to have a crude oil inventory good for 90 days. So they cannot just increase the pump prices based on recent increases in the cost of crude oil in the world market - Right now, they are still selling fuel products from crude oil shipments that were imported three months ago," Mr. [Eduardo R. Gullas] said. Bohol Rep. Ernesto F. Herrera is also calling for an investigation, saying that Petron Corp., Pilipinas Shell Petroleum Corp. and Caltex Phils., Inc. cannot claim to be losing money. Documents at the Securities and Exchange Commission (SEC) show otherwise, he said.</abstract><cop>Manila</cop><pub>The Financial Times Limited</pub></addata></record>
fulltext	fulltext
identifier	ISSN: 0116-3930
ispartof	Business world (San Juan, Philippines), 2001-06, p.1
issn	0116-3930
language	eng
recordid	cdi_proquest_reports_233885526
source	Nexis UK
subjects	Corporate profits Crude oil Crude oil prices Energy economics Herrera, Ernesto F Perez, Vincent Price increases
title	Big oil firms put off fuel price hikes
url	http://sfxeu10.hosted.exlibrisgroup.com/loughborough?ctx_ver=Z39.88-2004&ctx_enc=info:ofi/enc:UTF-8&ctx_tim=2024-12-29T10%3A48%3A57IST&url_ver=Z39.88-2004&url_ctx_fmt=infofi/fmt:kev:mtx:ctx&rfr_id=info:sid/primo.exlibrisgroup.com:primo3-Article-proquest&rft_val_fmt=info:ofi/fmt:kev:mtx:journal&rft.genre=article&rft.atitle=Big%20oil%20firms%20put%20off%20fuel%20price%20hikes&rft.jtitle=Business%20world%20(San%20Juan,%20Philippines)&rft.au=EVANGELINE%20L.%20MOISES%20AND%20CATHY%20ROSE%20A.%20GARCIA&rft.date=2001-06-18&rft.spage=1&rft.pages=1-&rft.issn=0116-3930&rft_id=info:doi/&rft_dat=%3Cproquest%3E74204320%3C/proquest%3E%3Cgrp_id%3Ecdi_FETCH-proquest_reports_2338855263%3C/grp_id%3E%3Coa%3E%3C/oa%3E%3Curl%3E%3C/url%3E&rft_id=info:oai/&rft_pqid=233885526&rft_id=info:pmid/&rfr_iscdi=true