Fuel Prices Continue to Increase in PH Amid Global Oil Problem
FUEL PRICES – The Department of Energy spoke on the possibility that the costs of fuel in the Philippines will reach Php 100.00 per liter.
Many Filipinos now are financially struggling due to the impacts of the pandemic, the high prices of basic goods and services, and the increasing oil prices. The series of oil price hikes started in January 2022 as part of the global oil problem.
The ongoing war between Russia and Ukraine has triggered the global oil problem. Several oil reserves including those of Japan’s have already been released to help ease the problems with the shortage of oil.
In the Philippines, the public utility drivers (PUVs) are among those who are greatly affected by the increasing fuel prices. They already called for help from the government – which released them fuel subsidies a few months ago.
The Philippine government also released fuel vouchers for fishermen and farmers who are using machinery that utilizes fuel in their livelihood. PUV drivers are calling for an increase on the minimum fare but the current administration may not likely approve it.
Based on a report on ABS-CBN News, there are also calls for the suspension of the fuel excise tax amid the high costs of fuel. However, Malacañang continuously rejects the call as the government may lose a huge revenue if it is implemented.
Amid the high prices of fuel in the country now, according to the report, the Department of Energy is confident that the fuel costs will not reach Php 100.00 per liter citing the fluctuations. Currently, fuel costs in Metro Manila got the following ranges:
- Diesel – P75.00 – P90.00 per liter
- Gasoline – P74.00 – P97.00 pet liter
Several motorists are looking for the cheapest fuel price so they can get more fuel amid its high costs now. PUV drivers are asking for long-term solutions to the oil problem.
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I would like the Dept. Of Energy to think 4x about the fuel the Phils. is using right this moment..what are the best alternative the Philippine economy will benefit if we stop using diesel and gasoline driven vehicles? Have you ever tried ELECTRIC VEHICLES instead? The Philippine govt. can benefit from it and save money..I call on our next president to consider this option. Look at China. They have manufactured lots of electric vehicles and boomed their business..why can’t the Philippines do the same?