• No pump price hike this week, says energy chief


    THERE will be no increase in oil prices this week, Energy Secretary Felix William Fuentebella said on Monday.

    “Asian gasoline market continued to soften with future spreads and cracks on a downtrend,” Fuentebella said, citing data from the US Energy Information Administration on the decline of US gasoline stocks due to the problematic weather in the country and in Mexico.

    In a text message, Fuentebella said there were also concerns raised that Hurricane “Irma” may impact America’s oil demand. JORDEENE LAGARE



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