Oil price cuts to top Neda meeting agenda (5:32 p.m.)
THE series of rollbacks in world prices of crude oil tops the agenda of the National Economic and Development Authority (Neda)-Cabinet meeting that will be held in Sta. Rosa in Laguna on late Tuesday morning.
Secretary to the Cabinet Silvestre Bello III said Energy Secretary Angelo Reyes will report on the prices of oil and other oil products, “especially gasoline”, during the Neda Board Cabinet meeting that will be held at the Toyota Administrative Service Building of the Toyota Motor Philippines Corporation office in Sta. Rosa.
The price of crude in the world market has been on a downtrend recently and is now at US$60 per barrel. Local oil companies have started to implement a reduction of P2 to P5 per liter in diesel and gasoline.
Liquified petroleum gas (LGG) also went down by P4 per liter and has been at about P44 per tank since Tuesday.
Bello said aside from oil prices, the Neda Cabinet will also tackle the proposed lifting of the temporary suspension of the operations of the Philippine Veterans Investment Development Corporation (Phidivec).
Environment Secretary Jose Atienza Jr. will also report on the National Government-local government cost-sharing framework for the implementation of solid waste management services. (JMR/Sunnex)
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