Headline inflation, or annual price increases, soared to a 20-month high of 4.1 percent in March, as the war in the Middle East fueled skyrocketing oil prices. National Statistician and Philippine Statistics Authority (PSA) chief Claire Dennis S. Mapa told a press briefing on Tuesday, April 7, that...
Fuel price pain continues after the Holy Week, with diesel nearing a ₱20-per-liter increase and gasoline resuming its upward adjustment despite remaining unchanged last week. Effective Tuesday, April 7, Shell Pilipinas announced that diesel prices will rise by ₱19.80 per liter, gasoline by...
Negros Occidental Gov. Eugenio Jose Lacson said that high fuel prices are beginning to impact the province. Lacson said he observed fewer vehicles and motorcycles, particularly in Don Salvador Benedicto (DSB), during his regular trips to San Carlos City. “I go home every week to San Carlos City...
Motorists may face sharp spike in fuel costs as international supply anxieties push domestic pump prices toward record highs, prompting the government to issue emergency anti-hoarding directives to protect the local market. Based on the first two-day estimates in the Mean of Platts Singapore...
The Department of Public Works and Highways (DPWH) has issued interim guidelines allowing implementing offices to use market-based prices in project costing to avoid delays amid rising fuel costs. The move comes as global oil prices surge due to geopolitical tensions involving Iran, Israel, and...
Fisherfolk group Pambansang Lakas ng Kilusang Mamamalakaya ng Pilipinas (Pamalakaya) warned on Tuesday, March 31, that fish prices may further increase during Holy Week due to higher demand and rising fuel costs. In a statement, the group said the ongoing oil price shock has “drastically...
While global oil shocks have yet to fully affect the Philippine economy since the flare-up of United States (US)-Iran military hostilities a month ago, the Bangko Sentral ng Pilipinas’ (BSP) minimum inflation assumption is that March accelerated at the fastest pace in at least 19 months. Seen as...
After 11 weeks of price spikes, gasoline will see no adjustment in its current prices, while diesel and kerosene will remain elevated moving into April. Effective Tuesday, March 31, diesel will rise by ₱12.50 per liter, while kerosene will increase by ₱2 per liter. Seaoil, Shell Pilipinas, and...
A farmers’ group on Sunday, March 29, warned of a looming food crisis as rising fuel prices push Filipino farmers and fisherfolk deeper into debt and drive up production costs. As tensions in the Middle East continue to trigger oil price shocks, the Kilusang Magbubukid ng Pilipinas (KMP) said...
The Department of Trade and Industry (DTI) secured a commitment from the country’s largest manufacturers and retailers to freeze prices on essential goods through mid-April to insulate households from the inflationary fallout of escalating tensions in the Middle East. In a statement late...
HANOI, Vietnam (AP) — Farmers around the world are feeling the squeeze of the Iran war. Gas prices have shot up and fertilizer supplies are waning due to Tehran 's near shutdown of the Strait of Hormuz in retaliation for U.S. and Israeli bombing. The fertilizer shortage is putting the...
With tough times ahead, austerity is the new buzzword. Yes, Virginia, we are in belt-tightening mode. The legs of inflation have walked their way into every aspect of basic services, with no apparent de-escalation of hostilities on the horizon. As an emerging economy, the Philippines is believed to...
