Philippines Braces for Fourth Consecutive Week of Fuel Price Hikes
For the fourth week in a row, Filipino motorists are facing significant jumps in pump prices as regional instability in the Middle East continues to roil the global oil market. Drivers like Joseph Calanoga, who has started adjusting his daily schedule to save on costs, are feeling the pinch as diesel prices surged by P11 per litre this Tuesday, while kerosene and gasoline saw increases of P12 and P4, respectively. With the Philippines importing the vast majority of its fuel from the region, the government has acknowledged the severity of the situation, citing concerns over shipping disruptions in the Red Sea. While the Department of Energy has assured the public that the nation maintains a 49-day fuel buffer, the persistent upward trend has reignited debates over economic relief for vulnerable sectors.
The ongoing price spikes have prompted transport unions to demand an immediate increase in base fares, arguing that the financial burden on drivers has become unsustainable. Although President Ferdinand Marcos Jr. has opted for targeted cash assistance and fuel subsidies rather than suspending excise taxes on diesel and gasolineâciting a potential loss of over P43 billion in state revenueâmany workers feel these measures fall short of their actual needs. As transport groups push for formal fare adjustments and commuters urge the government to consider alternative interventions, the administration continues to balance the necessity of public revenue against the mounting economic pressure on the Filipino workforce.