Tag: Oil Shock
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Filipinos rethink Holy Week travel amid rising costs
For many Filipinos, Holy Week marks one of the longest breaks of the year—a welcome pause to return to provincial towns, join the Stations of the Cross, visit churches, and watch the Senakulo.
Fuel price surge nudges EV shift debate
A fresh report from Agile Data Solutions Inc. suggests the latest spike in global oil prices could reshape how Filipinos think about mobility, potentially accelerating interest in electric vehicles (EVs), but not without persistent hurdles.
Marcos declares state of national energy emergency
President Ferdinand Marcos Jr. on Tuesday declared a state of national energy emergency through Executive Order No. 110, citing the growing economic risks posed by escalating geopolitical tensions in the Middle East.
Economic Planning chief warns oil shock may worsen poverty, slow growth
Economic Planning Secretary Arsenio Balisacan cautioned lawmakers that a prolonged Middle East conflict could trigger a severe economic shock in the Philippines, with surging oil prices threatening to reverse gains in poverty reduction.
Peso slips to P60 vs USD, stocks wobble on oil shock
The peso is likely to stay under pressure after breaking the 60:$1 mark, with volatility risks skewed to the upside, according to analyst Michael Ricafort. The currency closed at a record P60.10 on March 19 as renewed Middle East tensions drove oil prices higher—fueling inflation concerns and widening the country’s trade gap.
