Petron Corp.’s crude oil refinery in Bataan temporarily stopped operations in February due to weak margins. Value also down by 74%Out of 22 industries, only five sectors posted drop in production volume, but they pulled the overall VoPI down, PSA data showed. The PSA said fabricated metal products, except machinery and equipment, recorded the biggest VoPI growth in March, at 85.5 per cent. The value of coke and refined petroleum production dropped by 97.3 per cent in March. The total value of production index fell faster by 74.2 per cent, also the steepest since August last year’s 83.1 per cent.

Source: The Star May 09, 2021 06:33 UTC