The government of the Philippines has announced a 2.5 billion Peso (US$47m) relief fund to subsidise fuel costs for public utility vehicles, taxis, tricycles, ride-hailing apps and delivery services.
The fuel subsidies will provide welcome relief as drivers are facing significant increases in the cost of petrol and diesel.
Since the Russia-Ukraine conflict began on the 24th February, the price of crude oil jumped from around $90 a barrel to $124 in two weeks. Although prices have fallen again in the last week, the price is likely to remain volatile for some time as geo-political tensions around the world continue to simmer.
Click here for the source article
BRICS, the bloc of major developing economies, has welcomed Nigeria as its newest partner country.…
THINK LIKE AN ECONOMIST! Click here for the source article
Saudi Arabia has unveiled a $100 billion investment to supercharge its mining sector, targeting critical…
Elon Musk and Vivek Ramaswamy are shaking up Washington with the Department of Government Efficiency…
New York City has introduced a $9 congestion pricing toll for vehicles entering central Manhattan…
Sales of foreign mobile phones in China plummeted 47.4% year-on-year in November, totaling just 3.04…