The Daily Tribune
Supermarket owners warn price uptick if oil price hikes persist
Consumers may face increased prices for basic necessities and prime commodities in Philippine supermarkets due to the projected rise in oil prices amid escalating global tensions.
Steven Cua, president of the Philippine Amalgamated Supermarkets Association (PASA), warned that sustained high fuel costs will inevitably lead to price hikes by food manufacturers.
Cua acknowledged that the situation is still developing, making it difficult to predict the extent of the conflict and its impact on oil prices.
PASA is considering a dialogue with the Department of Trade and Industry (DTI) to discuss potential price impacts, although no formal invitation has been extended yet.
This comes after the DTI recently denied a request for a price increase from sardine manufacturers.
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See how different news organizations are covering this story. Below are the original articles from various Philippine news sources that contributed to this summary.
Motorists in the Philippines are set to face significant fuel price increases starting Tuesday, June 24.
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Local oil companies have agreed to implement fuel price increases in two tranches this week to lessen the burden on consumers, following discussions with the Department of Energy (DOE).
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The Department of Energy (DOE) warns of a potential price increase for diesel by as much as PHP4.80 per liter next week.
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The United States bombing of Iran's nuclear facilities is causing concerns about a significant increase in global oil prices, potentially impacting import-reliant economies like the Philippines.
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The Department of Energy (DOE) is appealing to oil companies to stagger fuel price adjustments, especially during sudden spikes in global oil prices, to cushion the impact on local consumers.
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