Transport groups have warned that they will push for a fare hike due to the continuing rise in oil prices.
According to Pasang Masda President Obet Martin, their group will be forced to request a fare increase when there is another oil price hike next week.
“Mapi-puwersa na kaming mag-file ng petition for fare increase. Ito’y masakit sa aming puso at isip pero kailangang maunawaan kami ng ating mananakay, ‘di na namin makakaya,” said Martin.
On Tuesday, there was a huge increase in the product’s price, the sixth consecutive week with an oil price hike.
Within six weeks, diesel price reached P5.65 per liter, gasoline P4.10, and kerosene P5.30.
The leaders of the transport groups, the League of Transportation and Operators of the Philippines, and the Alliance of Transport Operators and Drivers Association of the Philippines asked the government to talk to them and consult with them to discuss how to help their sector.
Aside from transport, the electricity bill is also due to a series of oil price hikes because many plants use liquid fuel or diesel, said Laban Konsyumer.
Even manufacturing, such as sardine producers, is also affected by the increase in oil prices.
“Ang mga mangingisda, nanghuhuli ng sardinas using motorized bancas… fishing vessels mostly use a lot of fuel,” said Canned Sardines Association of the Philippines Spokesman Francisco Bombit Buencamino.
Transport groups might ask for fare hike
But the sardine manufacturers clarified that they are not pushing for a price increase right now.
For those who produce canned meat, it is said that the increase in oil prices also has a significant effect on their production and transport costs.
But the manufacturers continue to catch it because they know that consumers are already struggling.
The Department of Trade and Industry (DTI) had earlier said that it was still studying the price hike of manufacturers of some essential commodities.
Meanwhile, inflation for the bottom 30% income households at the national level slowed down to 5.0 percent in September 2021, from 5.3 percent in August 2021. In September 2020, it was posted at 2.8 percent.
The country’s average inflation rate for this particular group of consumers from January to September 2021 was 4.9 percent.