With oil prices expected to rise in the coming days due to escalating tensions between Iran and Israel — now involving the United States — consumers should brace for possible price hikes in basic necessities and prime commodities, the Philippine Amalgamated Supermarkets Association warned Monday.

“If the price of fuel persists and if the war escalates, then for sure, prices of goods in supermarkets will go up because the price of oil will (definitely) go up,” said association president Steven Cua in a phone interview.

Cua explained that food manufacturers cannot indefinitely hold off price increases if fuel costs continue to surge.

“But the war has just started, and only in its first week. We cannot say if the war will stop, which is very unlikely. It’s too early to tell if the war will escalate or not, and if pump prices will stop hiking,” he added.

He said the group is eyeing a dialogue with the Department of Trade and Industry (DTI) to discuss the potential impact, but noted they have not yet received an invitation from Trade Secretary Cristina Roque.

Last week, Roque denied a request from sardine manufacturers for a P3 price hike.

The DTI has yet to issue a statement on possible price increases following the outbreak of conflict involving Iran.

Meanwhile, the Department of Energy (DOE) confirmed that fuel retailers have agreed to implement a staggered price increase this week.

DOE officials, including Officer-in-Charge Sharon Garin and Undersecretary Alessandro Sales, met Monday morning with representatives from the downstream oil industry.

“Our dialogue with industry players today reflects our shared commitment to balance economic realities with the need to shield our people from sudden price shocks, and we are pleased to report that they have responded positively to our request,” Garin said in a statement.