After surviving the pandemic and hard lockdowns by the government, Filipinos are now finding themselves in another difficult situation as prices of almost all necessities have skyrocketed due to rising fuel prices.
The country’s inflation rate even rose to 5.4% in May 2022 as the global oil prices affect other goods and necessities.
While some can cope and ride through the price hike wave, ordinary and working Filipinos take the brunt of the inflation and the rise in prices of basic necessities and food staples.
Here is the list of the commodities with raised prices, or still requesting to, as of Monday (June 13):
Prices of petroleum products are expected to rise again starting June 14 after another big-time oil price hike on June 7, as supply in the world market remains tight.
According to Unioil Petroleum Philippines on. Saturday (June 11), the price of diesel could go up by P4.30 to P4.50 per liter, while gasoline prices may go up by P1.50 to P1.60 per liter.
On June 7, the Philippines’ top fuel companies – Petron, Caltex, Shell, and Seaoil – hike diesel prices by P6.55 per liter, gasoline by P2.70, and kerosene by P5.45.
Further, Department of Energy (DOE) Oil Industry Management Bureau Director Rino Abad said on Wednesday (June 7) that more rounds of fuel price increases are to be expected in the coming weeks.
“Wala po tayong nakikitang event – sana may dumating – na siyang mag-ooffset nung push nitong mga event na 'to na tuloy tuloy na nagiincrease ng ating price," Abad said in an interview.
(We don't see any event – we hope that there will be one – which will offset the increase in prices.)
Meanwhile, groups have called for the suspension of excise oil tax and to review oil deregulation law to offset the effects of the continuous oil price increase, which has already seeped to other commodities.
The price of rice, a staple in Filipino households, is feared to increase by P6 per kilogram by year-end, according to the Department of Agriculture (DA).
High cost of production due to skyrocketing rates of fuel and fertilizers could further dissuade farmers from planting rice.
The agriculture department is now seeking more support for farmers such as fertilizer subsidies to hopefully bring down rice production costs.
Based on DA’s price monitoring as of Friday (June 10), a kilo of local well-milled rice is at P41 per kilogram while regular milled rice is at P38 per kilogram.
Although they haven’t raised prices yet, manufacturers of bread have requested to be allowed to raise prices due to increasing costs of inputs, according to the Department of Trade and Industry (DTI) on June 2.
DTI Secretary Ramon Lopez said that wheat, which is used for bread production, is among those with highest price increases monitored by the DTI.
“It (wheat price) increased because of the Russian invasion of Ukraine and then followed recently by drought in India and also in the US,” Lopez noted, adding that palm oil also had one of the biggest price increases.
The last time bread prices went up was in February 2022, which raised prices of loaf by P3 and pandesals by P1.50.
On June 3, the Philippine Association of Meat Processors Inc. (PAMPI) also called for price increase on meat products to break even with their production costs.
“Ilang buwan nang mahirap ang mga materyales magmula sa karne, ingredients, packaging. Pero meron pa naman nagagamit, di pa naman nag-o-out of stock. Pero napakataas ng presyo ng lahat ng materyales,” Jerome Ong, vice-president of PAMPI said in an interview with Radyo Pilipinas.
[Materials for productions are very difficult (to meet) for a few months now from meat, ingredients, to packaging. But we still have stocks for use. However, the price of materials is very high.]
He noted that the manufacturers asked for 10% to 12% increase for the products but were only allowed to increase rates by only 2% to 4%.
Ong noted that while they also want to lower costs for the consumers, it’s not enough to cover the current production costs.
Pola Rubio is a news writer and photojournalist covering Philippine politics and events. She regularly follows worldwide and local happenings. She advocates for animal welfare and press freedom. Follow her twitter @polarubyo for regular news and cat postings.
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