Members of two baking associations will increase prices of loaf bread by P2 and pandesal by P1 effective today after prices of bread ingredients rose significantly.

Walter Co, president of the Philippine Baking Association, speaking at the Balitaan sa Tinapayan news forum held in Sampaloc, Manila on Sunday, said the Philbaking and Philippine Federation of Bakery Association Inc. had to implement price adjustment to cope with the expenses needed in making bread.

“The member-baking companies of the two associations have incurred huge loses due to increases of prices of sugar, flour, water, oil and other ingredients for making bread so we have no choice but to implement price adjustment,” he said.

RP solar car on the road

Looking like an alien spaceship from outer space, the second Philippine solar-powered car, Sikat, traveled from San Carlos City to Bacolod Friday and was displayed at the SM City-Bacolod during the weekend for public viewing.

It will be on exhibit at the University of St. La Salle today, as part of its 50-day tour of the Philippines to promote renewable energy.

Sikat is set to complete its route across the Philippines, stopping at universities in Cebu, Bacolod, and Iloilo City in the Visayas, as well as, Batangas, Angeles City, San Fernando and Laoag in Luzon.

Tax cut eyed for crude oil

The National Economic and Development Authority is studying the proposal of the private sector to cut tariff on crude oil and petroleum products to zero amid the rising global demand for oil, a government press release said.

"The energy sector is proposing a tariff reduction on crude oil, refined petroleum products and asphalt from the current 3 percent to zero," Acting Socioeconomic Planning Secretary Augusto Santos said.

Santos said the proposal of the small and big oil companies was now being studied by NEDA. "We will complete the study within two weeks," he added.

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