ATTY. PEACHES MARTINEZ-ARANAS

Quite recently, we’ve been discussing the continuing increase of fuel prices in the Philippines, particularly the factors which contribute to such increase. We’ve seen that the rise in fuel prices can be mainly attributed to the price of crude oil in the world market, which has currently breached the US$100/barrel threshold. The Philippines, being a heavy importer of oil, is more vulnerable to price increases, compared to its Southeast Asian neighbors.

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