Headlines: Oil prices continue rapid climb | Mar. 9, 2026
Oil prices continue rapid climbTHE price of oil surged higher and showed no signs of halting its rapid climb a week after the US and Israel launched major attacks on Iran that escalated into a war in the Middle East. The shipping disruption and damage to key Middle East oil and gas facilities have interrupted supplies from some of the world's largest oil producers. Asean, China ‘heavily invested’ in Code of Conduct in South China SeaTHE Association of Southeast Asian Nations (Asean) and China are "heavily invested" in the finalization of the 2026 Code of Conduct (COC) in the South China Sea (SCS), which has dragged on for the past 17 years because of some contentious issues. The negotiation for a COC stemmed from the need to address mounting tension in the 1990s amid the overlapping claims in the contested Spratly Islands in the South China Sea. Aquino analyzes the effect on oil prices during the Lenten season, while Tatad asks if Israeli prime minister Benjamin Netanyahu has been killed.
Source:Manila Times
March 09, 2026 01:20 UTC
Senators seek action vs abusive gas stations
Senators seek action vs abusive gas stationsA gasoline station in San Jose del Monte, Bulacan announces that it has run out of diesel yesterday. MANILA, Philippines — Senators yesterday called for a crackdown on gas stations prematurely raising pump prices, warning that the unabated fuel price hikes have slashed the daily take-home pay of public utility vehicle drivers to less than P300. “I filed a resolution urging the executive to convene a task force which will monitor fuel prices, and maybe even the price of basic commodities,” he said. Personnel working remotely are required to remain reachable during office hours through official communication channels and must attend meetings, hearings, conferences, or other onsite work when directed. Employees who report on-site on Fridays will be granted non-compensatory time off, subject to existing rules and regulations.
Source:Philippine Star
March 09, 2026 01:07 UTC
President Marcos off to New York for UN assembly
President Marcos off to New York for UN assemblyMANILA, Philippines — President Marcos left yesterday for New York City to visit the United Nations headquarters, where he is expected to call for peace in the Middle East, discuss the Philippines’ efforts to protect women’s rights and seek support for the country’s candidacy for a non-permanent seat in the UN Security Council. Marcos’ visit to the UN from March 9 to 10 will be his 41st overseas trip since assuming office in 2022. Unlike in other overseas trips, Marcos did not issue a departure statement before the plane carrying him took off at 10:22 a.m.Executive Secretary Ralph Recto, Education Secretary Sonny Angara and Agrarian Reform Secretary Conrado Estrella III will serve as caretakers of government while Marcos is in New York. The President is also expected to meet with UN Secretary General António Guterres to talk about developments in the Middle East, where more than 2.5 million Filipinos live or work. Marcos was accompanied by First Lady Liza Marcos, Foreign Affairs Secretary Maria Theresa Lazaro, Migrant Workers Secretary Hans Leo Cacdac, presidential peace adviser Carlito Galvez Jr. and Communications Secretary Dave Gomez.
Source:Philippine Star
March 09, 2026 01:01 UTC
PAGASA: LPA outside PAR unlikely to become tropical depression
PAGASA: LPA outside PAR unlikely to become tropical depressionLow-pressure area 1,405 kilometers east of northeastern Mindanao as of 8 a.m. on March 8, 2026. MANILA, Philippines — The low-pressure area (LPA) outside the Philippine area of responsibility (PAR) has a “low chance” of developing into a tropical depression, the state weather bureau PAGASA said. As of 8 a.m. on Sunday, March 8, PAGASA reported that the LPA is located approximately 1,405 kilometers east of northeastern Mindanao. Quezon, Oriental Mindoro, Marinduque, and the rest of the Cordillera Administrative Region may also experience cloudy skies with light rains. The amihan may likewise bring cloudy skies with rain to Cagayan Valley, Apayao, Kalinga and Aurora.
Source:Philippine Star
March 08, 2026 21:18 UTC
US, Israel hit five oil sites in and near Tehran: official
US, Israel hit five oil sites in and near Tehran: officialRubble of destroyed buildings is pictured at the site of an Israeli airstrike that targeted Rweiss neighbourhood in Beirut's southern suburbs, on March 8, 2026.
Source:The Standard
March 08, 2026 17:45 UTC
President Marcos: Don’t use aid programs for political gain
President Marcos: Don’t use aid programs for political gainMANILA, Philippines — The government’s aid programs should not be used to gain mileage or to engage in politicking, President Marcos said yesterday, as he pushed for simpler and more efficient means of delivering assistance and services. In his latest vlog, Marcos responded to messages from the public, including a complaint about senior citizens having to endure long waits from speeches of politicians before they receive aid. “With regard to the programs of the national government, speeches and other ways to attract attention before distribution are not allowed,” the President said. Marcos said the possible digitizing of the aid distribution process, such as sending the money through GCash, is being discussed. Marcos, however, did not veto the “soft pork barrel” included by Congress in the 2026 General Appropriations Act, which various groups had criticized for allowing politicians to use state-funded aid programs for self-promotion.
Source:Philippine Star
March 08, 2026 17:31 UTC
Government readies P3.5 billion for transport subsidy
Government readies P3.5 billion for transport subsidyDOTr to roll out free rides, fuel vouchersMANILA, Philippines — The Department of Transportation (DOTr) is preparing P3.5 billion in subsidies for free rides to millions of commuters, and to finance part of the fuel costs of public utility vehicles (PUVs). The DOTr is employing a two-pronged approach in mitigating the impact of rising fuel prices on commuters. The last time that fuel subsidies were issued was in 2023, when about 1.36 million beneficiaries received one-time grants of up to P10,000. President Marcos is expected to certify as urgent any measure that will grant him the power to slash the excise tax on oil products. We collect around P330 to P410 billion per year from oil products, including VAT (value-added tax) and duties,” Nepomuceno noted.
Source:Philippine Star
March 08, 2026 16:48 UTC
Public service, hard work and enterprise
Public service, hard work and enterpriseThe hardest working person in public service. The work has been quite overwhelming, but I am convinced that all these efforts support our rallying cry for all these years: Prosperity for All. They knew – as Dad did – what sacrifices awaited them in government service, yet my father went and served anyway. I have seen what it takes to give up something to enter public service. For example, private sector is doing its part and now pushing for the upskilling and reskilling of our workforce so the Filipino worker can become more globally competitive.
Source:Philippine Star
March 08, 2026 16:46 UTC
Luka on the edge
Luka on the edgeIf you hear something late at nightSome kind of trouble, some kind of fightJust don’t ask me what it wasJust don’t ask me what it wasJust don’t ask me what it was– Suzanne Vega, “Luka”Los Angeles Lakers guard Luka Don?i? His ceaseless complaining has annoyed even his own teammates, who admonish him to keep his mind on the game. Is this Luka Don?i?’s blueprint? Is the pressure of winning for the most glamorous basketball franchise in the world getting to be too much? Will his attitude change, more so when LeBron James is no longer on the team next season?
Source:Philippine Star
March 08, 2026 16:42 UTC
Pool patron Mariano not a fan of ‘sharking’
Pool patron Mariano not a fan of ‘sharking’MANILA, Philippines — When the Sharks Billiards Association was launched two years ago, one of the rules introduced was “sharking” or giving the spectators the freedom to shout or heckle the players during the game to force a miss. Long-time pool patron Perry Mariano doesn’t admire the rule. “I look at Hadley’s league, I don’t approve of this sharking rule,” he said. While sharking may be entertaining in some way, Mariano stressed it may devalue the beauty of the game. “But as a mainstream professional league for the future?
Source:Philippine Star
March 08, 2026 16:42 UTC
Eala-Gauff II: Duel of crowd darlings
Eala-Gauff II: Duel of crowd darlingsMANILA, Philippines — “I’m ready.”These are the fighting words of Filipina Alex Eala, determined to show her stuff and battle tennis giant Coco Gauff in a duel of crowd darlings in Round 3 of the Indian Wells Open at the Indian Wells Garden in California today. From rankings to experience, the 21-year-old Gauff, WTA No. But Eala isn’t to shy away from the fight, determined to turn it to a duel of wit and grit. 52 Dayana Yastremska of Ukraine in Round 2, Eala expects nothing less against Gauff. “I had to dig really deep last game so I’m expecting that I have to do even more against Coco.
Source:Philippine Star
March 08, 2026 16:42 UTC
Asia as a safe haven
Asia as a safe havenWith the turmoil in the Middle East continuing on its second week, the Asian region is now being viewed as a safe haven for economic stability and investments. According to Aziz, “for regional conflicts to have global impact, there has to be a link between the regional conflict and global economics. But right now,...we don’t really think that, you know, this is going to be a systemic shock to the global economy. But in Asia originally, if you think of so-called safe haven status countries, Singapore is definitely one. According to Chen, “So I think the safe haven status in Asian countries, you are going to expect some inflows because now the Middle East’s stability is in question.
Source:Philippine Star
March 08, 2026 16:34 UTC
Government borrowings exceed program
Government borrowings exceed programLatest data from the Treasury showed total gross financing went up by 3.5 percent to P2.65 trillion from P2.56 trillion in 2024, exceeding its P2.60-trillion borrowing plan. MANILA, Philippines — The Marcos administration’s gross borrowings rose to P2.65 trillion in 2025 amid higher domestic borrowings, exceeding its planned financing program, the Bureau of the Treasury (BTr) said. In December alone, total gross borrowings plunged by 18 percent to P57.46 billion from P69.77 billion in the same month in 2024. It accounted for nearly 80 percent of total borrowings. Last year’s gross borrowings sought to plug the government’s P1.58 trillion budget deficit, which surpassed the government’s P1.56 trillion forecast by 0.97 percent, Rizal Commercial Banking Corp. chief economist Michael Ricafort said.
Source:Philippine Star
March 08, 2026 16:34 UTC
Contingency planning
Contingency planningI can only scratch my head after reading that PNOC wants to buy a million barrels of diesel within a week to ensure supply. The emergency supply agreement with ASEAN countries was our best assurance of continued supply. Most of our processed fuel (gasoline, diesel) comes from Asian neighbors like South Korea (34 percent) and China (25 percent). Besides, the rest of the world will also be competing for whatever oil these non-traditional oil exporters can supply. Speaking of prices, non-oil power sources such as Malampaya will not shield us much from the oil price increases.
Source:Philippine Star
March 08, 2026 16:34 UTC