MANILA, Philippines — While the government earlier warned of diesel hitting P96 per liter in a “worst-case scenario” because of the escalating crisis in the Middle East, consumers are now paying P94 per liter to as high as P115 per liter after a new double-digit increase this week. Ibon Foundation said rising oil prices threaten to further erode the already weak purchasing power of Filipinos, noting that inflation accelerated to 2.4% last month from 2% in January. READ: Philippine inflation hits 13-month high of 2.4% in February This “indicat[es] building price pressures on Filipino households, especially those with low incomes,” […]... Keep on reading: Fuel shock and the peso pinch