Ray Talimio Jr., former ORO Chamber President and RDC-EDC Co-Chairman, has warned that fuel prices in the Philippines could surge to as high as ₱100 per liter in the coming weeks due to tightening global supply and escalating Middle East tensions.
He explained that China and Russia have restricted exports to protect their strategic reserves, while the ongoing Ukraine crisis continues to strain the global supply chain.
Although the Philippines maintains 50 to 60 days of oil reserves, Talimio cautioned that this buffer may not be enough if commercial oil companies raise prices further and global shortages persist.
He projected that fuel costs could climb to ₱88–₱90 per liter within three weeks, and possibly breach ₱100 depending on international market movements.
Talimio urged both the government and consumers to prepare and plan for efficient fuel use to mitigate the economic and social impact of such increases.
He emphasized that proactive measures are essential to shield households, businesses, and the transport sector from the severe consequences of a prolonged global energy crisis.
