Southeast Asia Model Urged to Curb Fuel Price Spikes in Philippines

Philippine transport strike leaders are calling for the government to adopt measures similar to those used in Southeast Asia to control fuel prices, which have risen sharply due to global oil price increases. According to think tank Ibon Foundation, governments in Vietnam, Thailand, and Indonesia intervene to cushion the impact on consumers.

Oil prices in the Philippines rose by up to P18.31 for diesel and P15.25 for gasoline after three major hikes last month, with diesel reaching as high as P106.37 per liter. The government has been criticized for its hands-off approach, adhering to a deregulation law that gives oil companies free rein in setting prices.

Meanwhile, 78-year-old Elmer Cordero, who led a transport strike on Tuesday, was hospitalized with age-related health issues. Despite his condition, Cordero stood in solidarity with other jeepney drivers affected by the sharp increases in fuel costs.