Go urges oil crisis intervention

​SEN. Bong Go called for immediate economic interventions to shield Filipinos from the impact of rising global oil prices amid tensions in the Middle East. ​Go issued the appeal amid projections that pump prices could surge significantly due to global supply constraints and the Philippines’ heavy reliance on imported oil. Industry estimates suggest gasoline prices — already hovering above P70 per liter — could rise by as much as P9 to P12 per liter, with diesel potentially increasing even more. ​The senator said the volatility highlights the country’s vulnerability to external shocks, particularly as geopolitical crises affect key shipping routes and energy markets. ​Analysts note that sustained increases in fuel prices could intensify inflationary pressures, particularly in a country where transportation and logistics costs significantly influence retail prices. ​“This is really a domino effect,” Go said, noting that rising oil prices would inevitably cascade across sectors, driving up transportation fares, food production costs and the prices of basic commodities. ​Go expressed willingness to support the suspension of excise taxes on fuel should global crude prices reach $100 per barrel, a threshold he said could be breached if the war persists and supply remains tight. ​Meanwhile, transport groups have raised concerns over delays and gaps in the government’s fuel subsidy programs. Some drivers report not receiving assistance due to pending documentation or exclusion from official beneficiary lists submitted to implementing agencies. ​Transport leaders said current subsidy amounts may be insufficient to offset sustained fuel price increases, especially for drivers dependent on daily earnings. Some drivers are still completing registration and data validation requirements before they can access subsidies, further delaying relief. Others cited bureaucratic hurdles that slow the disbursement process. ​Go urged agencies such as the Department of Energy, Department of Agriculture, and Department of Transportation to prioritize the most affected sectors, including public utility drivers and low-income workers. ​​“This is the Filipino people’s money. It should be returned to them during this time of crisis,” he said.

Go to News Site