Senator Mark Villar on Tuesday expressed concern over the recent surge in global oil prices, warning that higher fuel costs could place additional strain on Filipino households and key economic sectors.
“Alam natin na mabigat sa bulsa ng ating mga kababayan ang patuloy na pagtaas ng presyo ng langis at krudo. Kaya mahalagang mapag-aralan natin kung ano pa ang maaaring gawin ng pamahalaan upang mapagaan ang epekto nito sa ating mga mamamayan lalo na sa sektor ng agrikultura at transportasyon,” Villar said.
Energy Secretary Sharon Garin earlier said fuel prices could rise by about P17 to P24 per liter in the coming days as global oil markets react to rising geopolitical tensions.
The Department of Agriculture has also warned that a prolonged escalation of tensions in the region could lead to higher fuel, fertilizer and freight costs, which may affect the Philippine agriculture sector.
Villar noted that the Bangko Sentral ng Pilipinas has likewise cautioned that a sharp increase in global crude oil prices could push inflation higher and raise the cost of transportation, electricity and basic commodities.
“Lahat po tayo ay apektado dito kaya suportado po natin ang mga karagdagang polisiya o programa na maaaring ipatupad upang maprotektahan ang kapakanan ng ating mga mamamayan,” he said.
The senator said he is ready to support measures aimed at stabilizing fuel prices, strengthening the country’s energy security and easing the burden of rising fuel costs on Filipino families.