Fuel prices are expected to climb again next week, with diesel projected to rise by P16.50 to P17.50 per liter and gasoline by P7.50 to P8.50 per liter, according to an industry source — adding fresh pressure on households already contending with accelerating consumer prices.
The increases come as the Department of Energy recorded significant fuel price adjustments for the week of March 17 to 23, with diesel ranging from P20.40 to P23.90 per liter, gasoline from P12.90 to P16.60 per liter, and kerosene from P6.90 to P8.90 per liter.
The broader concern, analysts say, extends well beyond the fuel pump. IBON Foundation executive director Sonny Africa warned Sunday that the ongoing Middle East conflict could drive Philippine inflation from its current 2.4% to between 6% and 7% by year-end.
“Kung ngayon yung 2.4% ngayon Pebrero, malamang sa hindi, tatama ng 5% ngayon Marso pa lamang hanggang sa kalagitnaan ng taon, mas maaring umabot ng 6% to 7% sa katapusan ng taon,” Africa told Super Radyo dzBB.
That projection aligns with figures from the Department of Economy, Planning and Development, which has flagged the possibility of inflation exceeding 7% if the regional conflict deepens and drags on.
Philippine Statistics Authority data showed consumer prices rising 2.4% in February — up from 2.0% in January and 2.1% in the same month last year, marking the fastest pace in 12 months. Food, non-alcoholic beverages, housing, and utilities were identified as the primary drivers.
Africa cautioned that wage growth would not keep up with rising prices. “Hindi naman sasabay yung sahod; di naman madadagdagan ang trabaho,” he said.
Without decisive government intervention, he said the price surge could push between two and three million more Filipino families below the poverty line.
“Kung walang agarang action sa gobyerno—hindi lang yung konti lang yung natutulungan, konting ayuda—walang duda itong pagtaas ng presyo sa bilihin, hudyat ito ng 2 million to 3 million pamilyang Pilipino na dadagdag sa mahirap,” Africa said.
