Data indicate that pump prices in the Philippines remain the third lowest among countries in the Asia-Pacific region, hence, the Filipino consumers’ discontent may be coming more from their eroding purchasing power.

Based on figures culled from the Department of Energy, the prevailing average price of gasoline in the country is at P36.25 per liter; while diesel hovers at P31.00 per liter.

The only two other countries with lower pump prices are Indonesia and Malaysia. It must be noted though that these two still rely on their governments’ subsidies.

The equivalent prices of gasoline and diesel in Indonesia are at P32.90 per liter (for both products); while in Malaysia, the cost of gasoline is at P24.51 per liter and diesel at P23.14 per liter.

“Pump prices in Metro Manila are cheapest, except for countries that provide subsidies,” the energy department noted.

The other Asean country having pump prices relatively close to the Philippines is Thailand at P41.41 (equivalent) per liter for gasoline and P35.30 per liter for diesel.

However, its prices are even higher compared to California in the United States, which has an average equivalent price of P37.83 per liter for gasoline and P35.30 per liter for diesel.

Listed to have the most expensive pump prices is Hongkong at P84.57 per liter for gasoline and P52.99 per liter for diesel; and followed by Singapore with P58.52 per liter for gasoline and P43.48 per liter for diesel.

The others in the roll with high prices are New Zealand with P53.18 per liter for gasoline and P33.53 for diesel; Australia with P51.63 per liter for gasoline and P49.18 per liter for diesel; while China has P47.80 per liter for gasoline and P44.27 per liter for diesel.

Filipinos, given most families’ meager incomes, are particularly displeased with any rise in pump prices because of its spiraling impact on the cost of other basic commodities.

In the past weeks, global oil prices continued to exhibit volatility because of factors affecting market fundamentals.

In turn, domestic pump prices are also adjusted periodically.

On one side, forecasts surmount that economic rebound may not happen as early as expected, hence, demand slump may trigger some weakening in prices.

On the other, geopolitical factors, such as the militant attacks at the oil-producing Niger Delta region has been threatening supply disruption that may set off spikes in prices for some time.