Senator Sherwin Gatchalian stated that the ongoing Middle East conflict will impact both Philippine petroleum prices and the US military presence on bases in the country.
“Para sa akin, hindi maganda ang timing. Nung 2025, ang baba ng ating economic growth, 4.4%, so this first quarter lang tinutulak ng gobyerno pabilis yung government spending pero kung taas presyo ng langis, tatamaan naman yung ibang important bilihin tulad ng pahkain,” Gatchalian said during an interview with Super Radyo dzBB.
The Department of Energy predicts that petroleum product prices will rise during the upcoming week.
The four days of Mean of Platts Singapore (MOPS) trading showed that gasoline prices may increase by approximately 1.10 per liter, diesel prices will increase by approximately 0.50 per liter and kerosene prices are projected to increase by 0.90 per liter.
