inflation – Author Carlo Carrasco

Philippines Inflation Accelerates To 7.2% In April 2026

May 11, 2026May 5, 2026carlocarrasco

Considering the immense economic impact the conflict in the Middle East had on the world, the inflation rate of Philippines unsurprisingly accelerated to 7.2% in April 2026, according to a news report by GMA News.

To put things in perspective, posted below is an excerpt from the GMA News report. Some parts in boldface…

Inflation rate accelerated to its fastest in three years in April 2026 as higher global fuel prices brought about by the Middle East petroleum crisis spilled over to food, local petroleum, and utilities costs during the period.

At a press briefing on Tuesday, National Statistician and PSA chief Claire Dennis Mapa said inflation — the rate of increase in the prices of goods and services — accelerated to 7.2% last month from 4.1% in March 2026 and 1.4% in April 2025.

This was the fastest inflation print since March 2023, when the inflation rate clocked in at 7.6%.

April’s inflation brought the year-to-date rate to 3.9%, still within the 2% to 4% comfortable ceiling set by the government for the entire 2026.

“Ang pangunahing dahilan ng mas mataas na antas ng inflation nitong Abril 2026 kumpara noong Marso 2026 ay ang mas mabilis na pagtaas ng presyo ng Food and Non-Alcoholic Beverages na may 6% inflation rate,” Mapa said.

(The main contributor to the increase in inflation rate in April 2026 compared to March 2026 was the faster hike in the prices of Food and Non-Alcoholic Beverages which posted a 6% inflation rate.)

Also contributing to the uptrend of the overall inflation in April 2026 was the faster annual increases seen in the Transport index at 21.4% in from 9.9% in March as well as the Housing, Water, Electricity, Gas and Other Fuels at 8.2% during the month from 4.7% in the previous month.

Moreover, faster increment were likewise seen in the indices of the following commodity groups last month:

Alcoholic beverages and tobacco – 4.8% from 3.7%; Clothing and footwear – 2.8% from 2.6%; Furnishings, household equipment and routine household maintenance – 3.5% from 3.1%; Health – 3.8% from 3.4%; Information and communication – 0.9% from 0.7%; Recreation, sport and culture – 4.9% from 4.7%; Restaurants and accommodation services – 6% from 5%; Personal care, and miscellaneous goods and services – 3.3% from 2.9%.

Food inflation – Food inflation, which tracks the price movements of food items in a “basket” commonly purchased by household, soared to 6.1% from 2.7% month-on-month driven primarily by the faster increase in rice inflation at 13.7% from 3.5% in March 2026.

Faster increments were also seen in corn (21% from 12.3%), flour and other bakery products (3% from 2.5%), fish and other seafood (9.4% from 6.6%), fruits and nuts (6% from 4.7%), vegetables (10.4% from 7%), and ready-made food (2.5% from 2.4%).

Let me end this post by asking you readers: What is your reaction to this recent development? Do you think the inflation rate of the Philippines will end up at 5% by the end of this year?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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Thank you for reading. If you find this article engaging, please click the like button below, share this article to others and also please consider making a donation to support my publishing. If you are looking for a copywriter to create content for your special project or business, check out my services and my portfolio. Feel free to contact me with a private message. Also please feel free to visit my Facebook page Author Carlo Carrasco and follow me on Twitter at @CarloCarrascoPH as well as on Tumblr at https://carlocarrasco.tumblr.com/ and on Instagram athttps://www.instagram.com/authorcarlocarrasco

Philippine Economic Growth Slows Down To 2.8% In 1st Quarter Of 2026

May 9, 2026May 7, 2026carlocarrasco

While the Philippines is hosting the summit of the Association of Southeast Asian Nations (ASEAN), the economy of the nation grew only 2.8% in the first quarter this year and it is the slowest growth in five years, according to a business news report by the Manila Bulletin.

To put things in perspective, posted below is an excerpt from the Manila Bulletin news report. Some parts in boldface…

The Philippine economy grew at its slowest pace in five years, expanding just 2.8 percent in the first quarter of 2026, as the country grapples with the persistent government spending slump and mounting inflation shocks.

The country’s economy, as measured by the gross domestic product (GDP), decelerated from the 3.0 percent expansion recorded in the final three months of 2025.

It also significantly missed the 3.4 percent median growth projected by economists in a survey, and marked the weakest quarterly output for the country since the first quarter of 2021, when the economy contracted 3.8 percent during pandemic-era lockdowns.

Growth was severely dragged down by a prolonged slump in public construction following a massive government flood-control scandal late last year, which has continued to stall state spending.

Moreover, the global energy shock triggered by the Middle East conflict in late February also sent domestic oil and input costs soaring, severely denting consumer and business confidence.

Let me end this post by asking you readers: What is your reaction to this recent development? Do you think heavy government spending will boost the economy somehow? Could it be possible that the Philippines could fall into a recession this year or next year? How do you rate the performance of the economic managers of the national government?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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Thank you for reading. If you find this article engaging, please click the like button below, share this article to others and also please consider making a donation to support my publishing. If you are looking for a copywriter to create content for your special project or business, check out my services and my portfolio. Feel free to contact me with a private message. Also please feel free to visit my Facebook page Author Carlo Carrasco and follow me on Twitter at @CarloCarrascoPH as well as on Tumblr at https://carlocarrasco.tumblr.com/ and on Instagram athttps://www.instagram.com/authorcarlocarrasco

Philippines Falls In 2026 FDI Confidence Index

April 19, 2026April 15, 2026carlocarrasco

Things are looking bad for the Philippines as the nation declined in the 2026 Foreign Direct Investment (FDI) Confidence Index ending up 18^th out of the 25 emerging markets, according to a news report by BusinessWorld. It should be remembered that the Philippines attracted less than $8 billion FDI in 2025.

To put things in perspective, posted below is an excerpt from the BusinessWorld news report. Some parts in boldface…

THE PHILIPPINES dropped two spots to 18th out of 25 emerging markets in the 2026 Foreign Direct Investment (FDI) Confidence Index by global management consulting firm Kearney.

The Philippines posted a score of 1.4635 in the index, which ranks markets that are likely to attract the most FDI in the next three years.

This was the third straight year the Philippines’ ranking declined in the index. It ranked 16th in 2025, 13th in 2024 and 12th in 2023.

“The index reflects a three-year outlook, so the shift points to softer medium-term investor confidence, rather than any single short-term factor,” Kearney Senior Partner, Philippines Country Head & APAC Communications, Media & Technology Lead Marco de la Rosa said in an e-mail interview.

“At the same time, recent Philippine-specific developments, including headlines last year around infrastructure spending and political challenges, may have weighed on investor sentiment, alongside a more risk-sensitive global environment, making the country a relatively less attractive destination for FDI,” he added.

The Philippines was rocked by a corruption scandal last year that linked government officials, lawmakers, and public contractors to anomalous flood control projects.

In 2025, the Philippines saw its FDI net inflows drop 17.1% year on year to $7.791 billion. This was the lowest yearly FDI level since 2020.

The downtrend continued at the start of this year as January FDI net inflows slid to a four‑month low of $443 million, 39.2% lower compared with the same month a year ago.

Conducted in January 2026, the FDI Confidence Index uses primary data from a proprietary survey of 507 senior executives of the world’s top corporations.

“China, the United Arab Emirates, and Saudi Arabia lead the emerging market ranking for the third consecutive year,” Kearney said.

Among emerging markets, the Philippines fell behind regional peers such as Thailand (6th), Malaysia (7th), Indonesia (13th) and Vietnam (16th).

“Other ASEAN (Association of Southeast Asian Nations) markets have become more attractive, particularly those benefiting from supply chain shifts and stronger positioning in innovation,” Mr. de la Rosa said. “Thailand and Malaysia are benefiting from China+1 diversification, while Vietnam stands out for linking talent to a clear sector strategy, particularly in semiconductors.”

Ateneo Center for Economic Research and Development Director Ser Percival K. Peña-Reyes said that the steady decline in the index is not driven by a single factor but rather by the Philippines’ relative underperformance versus peers and persistent structural constraints.

“The index is relative, so even if the Philippines is stable, (the fact) that other countries are rising faster pushes it down,” he said in a Facebook Messenger chat.

According to Kearney, investors cited the Philippines’ labor talent as its strongest asset (32%), followed by natural resources (28%) and economic performance (27%).

A fourth of the investors have identified the country’s tech innovation and ease of doing business as top reasons for investments, while 22% cited transparent governance. Only 12% cited infrastructure quality.

However, a small percentage or 2% said that there were no strong reasons at all to invest in the Philippines.

“What it suggests is that, for a small group of investors, the Philippines’ strengths may not yet be coming through as distinctly as some peers,” Mr. de la Rosa said.

Let me end this post by asking you readers: What is your reaction to this recent development? Do you think the Philippines can bounce back strongly on FDI soon? Do you think the Philippines is becoming the economic weakling of Southeast Asia?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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Slower Economic Growth And Higher Inflation For The Philippines

April 19, 2026April 15, 2026carlocarrasco

With the higher fuel prices, a limited oil storage capacity, a very vulnerable currency and other economic uncertainties happening around, the Philippines is headed towards higher inflation and slower gross domestic product (GDP) growth in the near future based on the latest analysis of Moody’s Ratings, according to a news report by BusinessWorld.

To put things in perspective, posted below is an excerpt from the BusinessWorld news report. Some parts in boldface…

MOODY’S RATINGS lowered its growth forecast for the Philippines and raised its inflation outlook, reflecting the impact of soaring global energy prices amid the Middle East conflict.

In a credit opinion on Tuesday, Moody’s cut its Philippine gross domestic product (GDP) growth projection to 4.9% this year from 5.5% previously. This is below the government’s 5-6% target for 2026.

For 2027, Moody’s trimmed its GDP growth forecast to 5.3% from 5.6% previously. If realized, this will be lower than the economic managers’ 5.5-6.5% target range for 2027.

“The conflict in the Middle East has increased downside risks to the Philippines’ economic outlook by raising global energy prices and external cost pressures,” it said.

Moody’s said it expects domestic demand and industrial activity to remain subdued due to high oil prices and fuel shortages.

“Higher energy and broader import costs are expected to erode real incomes amid high pass-through, dampen consumption, and weigh on industrial activity, reinforcing a firmer inflation trajectory,” it said.

Moody’s also noted that trade uncertainty and climate risks may also dampen economic activity.

“Our baseline assumes that the recovery in public investment will be gradual and begin only in the second half of 2026, as the government continues to take concrete measures to address the temporary slowdown. Meanwhile, higher energy import bills amid rising prices and peso depreciation, together with slower remittance growth, are expected to widen the current account deficit,” it said.

The Philippines is currently under a year-long national energy emergency as the Middle East crisis threatened its fuel supply. The government rolled out targeted subsidies and implemented energy conservation protocols.

“Together, these measures should mitigate the risk of significant supply disruptions,” Moody’s Ratings said.

Moody’s also hiked its average inflation forecasts to 3.7% in 2026 from 3% previously, and to 3.5% in 2027 from 3.2% previously, as oil prices remain elevated due to the Middle East conflict.

Moody’s forecasts are below the Bangko Sentral ng Pilipinas’ (BSP) 5.1% inflation projection this year and the 3.8% projection for 2027.

Inflation quickened to a nearly two-year high of 4.1% in March, breaching the BSP’s 2-4% target amid rising fuel and transportation costs.

“Inflation is expected to remain above the BSP’s target range, reducing policy flexibility and increasing the risk of policy tightening, even as softening growth and a negative output gap support a broadly accommodative stance in the near term,” Moody’s said.

Let me end this post by asking you readers: What is your reaction to this recent development? What do you think the government of the Philippines should do to stimulate economic growth and attract more foreign investors?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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World Bank Predicts Philippine Economic Growth Will Be 3.7% This Year

April 16, 2026April 15, 2026carlocarrasco

Recently the World Bank (WB) revised its 2026 economy growth for the Philippines forecasting gross domestic product (GDP) growth of only 3.7%, according to a news report by BusinessWorld.

To put things in perspective, posted below is an excerpt from the BusinessWorld news report. Some parts in boldface…

THE WORLD BANK slashed its growth forecast for the Philippines to 3.7% this year, well below the government’s target, as the war in the Middle East weighs on economic activity.

The World Bank on Wednesday said it sees Philippine gross domestic product (GDP) growth at 3.7% for 2026, significantly slower than the previous projection of 5.3%

If realized, it will also be slower than the post-pandemic low of 4.4% in 2025 and below the Philippine government’s 5-6% GDP target range for 2026.

“Our main projection is that overall growth in the East Asia and Pacific region is going to decline in 2026,” Aaditya Mattoo, director of research of the World Bank Group, said in an online briefing on the World Bank’s East Asia and Pacific Economic Update.

“Most countries in the region are going to see slower growth in 2026 than they have in 2025. That is our projection,” he added, citing the impact of the conflict in the Middle East as well as trade disruptions.

“The good news is we are likely to see a bounce back in 2027,” Mr. Mattoo said.

The World Bank raised its GDP growth projection for the Philippines to 5.6% in 2027 from 5.4% previously. It is within the government’s 5.5-6.5% target for 2027.

However, Mr. Mattoo said the Middle East war will have an impact on remittances in the East Asia and Pacific region, particularly the Philippines.

“Countries like the Philippines, which depend strongly on remittances, will see remittances from the Gulf… diminish,” he said.

Ergys Islamaj, a senior economist at the World Bank, said the Philippine economy is mainly exposed to the Middle East conflict through remittances as well as energy and fertilizer imports.

“Eighteen percent of remittances to the Philippines in 2025 came from the Gulf. Longer conflict will hurt the economy further,” he said.

In 2025, cash remittances soared to an all-time high of $35.634 billion, accounting for 7.3% of the country’s GDP. Remittances from Saudi Arabia accounted for 6.6% of the total, while the United Arab Emirates made up 4.6% and Qatar made up 2.9%.

The Philippines is a net importer of crude oil and sources most of its supply from the Middle East, making the country vulnerable to global crude price swings.

Mr. Mattoo said that global oil prices are expected to be as much as $20 higher even a year from now compared to the prices before the war broke out.

Let me end this post by asking you readers: What is your reaction to this recent development? Do you think the economy of the Philippines will grow slower this year? Do you think the Philippines is highly vulnerable as it depends on the Middle East for a great majority of its oil imports? Do you think the Philippines will eventually make new deals with Communist China and the Islamic terrorist regime of Iran for economic needs?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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Strong Office Demand In The Philippines During 1st Quarter Of 2026

April 14, 2026April 8, 2026carlocarrasco

During the January-March period this year, demand in the office market of the Philippines has been strong as net absorption jumped 77% year-on-year, according to a news report by BusinessWorld.

To put things in perspective, posted below is an excerpt from the BusinessWorld news report. Some parts in boldface…

THE PHILIPPINE office market started 2026 with stronger net demand, as net absorption rose 77% year on year to 133,000 square meters (sq.m.) in the first quarter (Q1), property consultancy firm Leechiu Property Consultants (LPC) said.

Gross demand, however, reached 234,000 sq.m., down 22% from the previous quarter, which LPC said was “consistent with typical first-quarter seasonal patterns.”

LPC Director of Commercial Leasing Mikko Barranda said market conditions remain stable but are becoming more complex.

“At this point, the market remains on track, but the path forward is becoming less straightforward,” he said during a briefing on Tuesday.

He added that “tenants are becoming more discerning and intentional in their real estate decisions, which must be matched by greater flexibility from the market.”

Traditional occupiers drove demand, accounting for 143,000 sq.m., or 61% of total take-up. Information technology and business process management (IT-BPM) firms contributed 79,000 sq.m., or 34%.

Expansion deals dominated both segments, with 112,000 sq.m. recorded for traditional tenants and 51,000 sq.m. for IT-BPM firms. Demand for managed facilities rose to 31,000 sq.m. as occupiers sought “ready-to-use spaces,” LPC said.

The increase in net demand was partly driven by a 62% year-on-year decline in vacated space to 101,000 sq.m. for the quarter.

LPC attributed the improvement mainly to the “absence of Philippine offshore gaming operator (POGO)-related exits.”

The firm said occupiers have “largely completed right-sizing and are no longer giving up additional space.”

In Metro Manila, Makati City led office transactions with 76,800 sq.m., equivalent to 54% of its total demand in 2025. LPC said 63% of these transactions were located along Ayala Avenue, with 70% involving semi-fitted or fitted units.

“Makati remains attractive as occupiers take advantage of competitive rents and fitted spaces, while maintaining the prestige of an Ayala Avenue address,” the firm said.

Bonifacio Global City (BGC) maintained the lowest vacancy rate at 8%, compared with the Metro Manila average of 18%.

Outside Metro Manila, demand reached 34,000 sq.m., led by Cebu with 11,700 sq.m., followed by Iloilo with 11,000 sq.m. and Clark with 6,600 sq.m.

LPC said provincial demand remains concentrated in “established IT-BPM hubs and infrastructure-linked corridors.”

Total office stock reached 2.7 million sq.m. in Metro Manila and 723,000 sq.m. in the provinces.

Metro Manila is expected to add 807,000 sq.m. of new office supply through 2028, with Quezon City accounting for 240,000 sq.m.

Let me end this post by asking you readers: What is your reaction to this recent development? Do you think demand for offices in the Philippines will remain strong throughout the year?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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Thank you for reading. If you find this article engaging, please click the like button below, share this article to others and also please consider making a donation to support my publishing. If you are looking for a copywriter to create content for your special project or business, check out my services and my portfolio. Feel free to contact me with a private message. Also please feel free to visit my Facebook page Author Carlo Carrasco and follow me on Twitter at @HavenorFantasy as well as on Tumblr at https://carlocarrasco.tumblr.com/ and on Instagram athttps://www.instagram.com/authorcarlocarrasco

Philippines Inflation Jumps To 4.1% In March 2026

April 12, 2026April 7, 2026carlocarrasco

With the sharp spikes on fuel prices caused by the war in the Middle East, the inflation rate of the Philippines jumped to 4.1% for the month of March 2026, according to a news report by GMA Network.

To put things in perspective, posted below is an excerpt from GMA News. Some parts in boldface…

Inflation rate sped up in March driven by the series of hikes in the retail prices of petroleum products due to the ongoing war in the Middle East, the Philippine Statistics Authority (PSA) reported on Tuesday.

At a press briefing, National Statistician and PSA chief Claire Dennis Mapa said inflation — the rate of increase in the prices of goods and services — accelerated to 4.1% last month from 2.4% in February 2026 and 1.8% in March 2025.

This was the quickest inflation rate since the 4.4% in July 2024.

Year-to-date inflation rate stood at 2.8%, still within the government’s 2% to 4% ceiling.

Mapa said the main culprit from the higher inflation print was Transport index which saw an inflation rate of 9.9%, a reversal from 0.3% decline month-on-month, and a 54.8% share to the overall uptrend.

“Ang nag-ambag sa mas mataas na antas ng inflation ng Transport nitong Marso 2026 ay ang pagtaas ng presyo mula sa pagbaba ng presyo noong Pebrero 2026 ng mga gasolina at diesel,” he said.

(The main contributor to the higher Transport inflation in March 2026 was the increase in the prices of gasoline and diesel from a decline seen in February 2026.)

In particular, inflation for gasoline soared to 27.3% last month from -5.7% in February while diesel’s inflation rose to 59.5% from -1.3% a month prior.

The global oil price shock amid the continuing US-Israel versus Iran conflict has caused petroleum pump prices in the country to jack up to historic highs in March.

Also contributing to inflation acceleration in March was the Food and Non-Alcoholic Beverages index which climbed to 3% from 1.8% in February with an overall share of 26.9% to the uptrend, driven by cereals (such as rice) growing 3.7% from -1.3% in the prior month.

The inflation for Housing, Water, Gas and Other Fuels index likewise increased to 4.5% from 3.5% month-on-month with a share of 12.7% on the back of increments across electricity (9.2% from 6.7%), LPG (2.2% from -2.2%), and rentals (3.2% from 3%).

Inflation felt by the bottom 30% income households clocked in at 4.2% from 2.5% in February, bringing its first quarter average to 2.8%.

The inflation for the bottom 30% income class was brought about by the 3.9% growth in Food and Non-Alcoholic Beverages as well as Transport which posted a 7.2% from a contraction of 0.6% in the previous month.

Let me end this post by asking you readers: What is your reaction to this recent development? Considering how high fuel prices are, do you think it is a matter of time before the nation’s inflation rate surpasses 5% in the next month or two? Do you think the government of the Philippines can provide financial relief as inflation spikes?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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Thank you for reading. If you find this article engaging, please click the like button below, share this article to others and also please consider making a donation to support my publishing. If you are looking for a copywriter to create content for your special project or business, check out my services and my portfolio. Feel free to contact me with a private message. Also please feel free to visit my Facebook page Author Carlo Carrasco and follow me on Twitter at @HavenorFantasy as well as on Tumblr at https://carlocarrasco.tumblr.com/ and on Instagram athttps://www.instagram.com/authorcarlocarrasco

Cebu Taxi Driver Ordered By LTFRB To Surrender His License For Overcharging K-pop Star

April 10, 2026April 8, 2026carlocarrasco

For some time now, the Philippines has been underperforming in the race of attracting foreign tourists and its 2025 numbers have been disappointing. Recently, Philippine tourism suffered another blackeye as a taxi driver in Cebu overcharged a very prominent entertainer from South Korea – K-pop star Soobin – and already the details of the incident spread like wildfire on social media and in foreign news, according to a news article by VnExpress. The said taxi driver has been suspended for 30-days and was ordered by the Land Transportation Franchising and Regulatory Board (LTFRB) to surrender his driver’s license.

To put things in perspective, posted below is an excerpt from the VnExpress news article. Some parts in boldface…

Philippine authorities have taken action against a taxi driver who overcharged Soobin, a member of the K-pop group Tomorrow X Together, during a trip to Cebu.

According to Korea JoongAng Daily, a video posted April 1 on the group’s official YouTube channel, titled “Soobin’s Super Fun and Super Tiring Vacation,” shows the singer and his friend navigating the incident. In the footage, Soobin and the friend arrive at the airport and attempt to take a taxi to their accommodation.

“I checked beforehand, it should be about 300 pesos (US$17),” Soobin says in the video, as quoted by Chosun Biz. “If they charge more than 300 pesos, let’s act angry once.”

However, a taxi driver subsequently approaches them and initially quotes the pair 500 pesos. After failing to negotiate, Soobin gets into the taxi, only for the driver to suddenly demand 1,000 pesos, claiming it was a “car with expensive gas.”

Soobin immediately confronts the driver, saying, “Did you hear that? I’m going to report you,” while documenting the attempted overcharge.

His friend later remarks, “Still, it’s better that we arrived safely. We’re so tired,” and Soobin ultimately pays the originally agreed 500 pesos.

Following the broadcast, the Philippines’ Land Transportation Franchising and Regulatory Board ordered the driver to surrender his license plate and driver’s license and imposed a 30-day suspension.

“The taxi driver excessively charged the fare and deliberately did not use the meter during the ride,” the board said, as quoted by the South China Morning Post. “This is a serious offense that tarnished our country’s honor in the international community.”

Philippine National Police Chief Jose Melencio Nartatez Jr. also ordered a nationwide crackdown on taxi drivers accused of overcharging passengers. Authorities have since been deployed to monitor transportation hubs, particularly airports.

Let me end this post by asking you readers: What is your reaction to this recent development? If have traveled overseas over the past twelve months, were there any local taxi drivers who overcharged you? Do you think Philippine tourism will be able to recover from this recent embarrassment?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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Thank you for reading. If you find this article engaging, please click the like button below, share this article to others and also please consider making a donation to support my publishing. If you are looking for a copywriter to create content for your special project or business, check out my services and my portfolio. Feel free to contact me with a private message. Also please feel free to visit my Facebook page Author Carlo Carrasco and follow me on Twitter at @HavenorFantasy as well as on Tumblr at https://carlocarrasco.tumblr.com/ and on Instagram athttps://www.instagram.com/authorcarlocarrasco

Almost 2.5 Million Barrels of Russian Crude Oil Acquired By Petron

April 4, 2026March 30, 2026carlocarrasco

Fuel giant Petron confirmed that it has almost 2.5 million barrels of crude oil from Russia, according to news report by GMA News. The acquisition has been perceived by many as crucial as the Philippines is struggling with very expensive fuel.

To put things in perspective, posted below is an excerpt the GMA News report. Some parts in boldface…

Petron Corp. on Monday confirmed the procurement of 2.48 million barrels of crude oil from Russia to augment its inventory until June, as the country’s supply reaches what it described as a “precarious” level amid the ongoing conflict in the Middle East.

The listed fuel retailer, which holds a 30% share of the Philippine market and operates the country’s only oil refinery, said it closely coordinated with the Departments of Energy (DOE) and Finance (DOF) on the purchase after both agencies called on local companies to secure alternative sources of crude and finished products.

“The corporation wishes to emphasize that the procurement of Russian crude oil is not part of its business-as-usual sourcing strategy,” Petron said in a regulatory filing.

“The purchases were undertaken strictly out of extreme necessity, as an extraordinary emergency measure in response to unprecedented geopolitical and supply chain disruptions, and only after exhausting all commercially and operationally viable alternatives,” it added.

Petron said it also received confirmation from the Bangko Sentral ng Pilipinas (BSP) that there is no prohibition under Philippine law on sourcing foreign currency for import and trade transactions, clearing the way for the importation of Russian crude oil.

The corporation said that if the current crisis persists and alternative crude sources remain unavailable or insufficient, it may again be compelled to consider purchasing Russian crude oil to augment the national fuel supply.

It added that this would help directly mitigate the adverse consequences arising from the absence of a stable and reliable source of crude.

Let me end this post by asking you readers: What is your reaction to this recent development? Does Petron’s procurement of 2.48 million barrels of Russian crude oil make you feel relieved when it comes to the overall supply of fuel in the Philippines?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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Thank you for reading. If you find this article engaging, please click the like button below, share this article to others and also please consider making a donation to support my publishing. If you are looking for a copywriter to create content for your special project or business, check out my services and my portfolio. Feel free to contact me with a private message. Also please feel free to visit my Facebook page Author Carlo Carrasco and follow me on Twitter at @HavenorFantasy as well as on Tumblr at https://carlocarrasco.tumblr.com/ and on Instagram athttps://www.instagram.com/authorcarlocarrasco

Philippine Peso One Of The Most Vulnerable Currencies Of Asia

April 2, 2026March 30, 2026carlocarrasco

With a lot of economic disruptions connected with the conflicts in the Middle East, the Philippine Peso has been exposed as one of the most vulnerable currencies of Asia and already the nation is struggling with spiked fuel prices and rising inflation, according to a business news report by the Manila Bulletin.

To put things in perspective, posted below is an excerpt from the announcement by the Manila Bulletin. Some parts in boldface…

Singapore-based DBS Bank Ltd stated that the Philippine peso is emerging as one of Asia’s most vulnerable currencies as deepening global oil crisis exposes the nation’s heavy reliance on imported energy and the lack of government subsidies.

DBS wrote in a commentary published last Friday that the peso is expected to underperform in the foreign exchange (forex) market alongside the Indian rupee, which recently hit a record low against the United States (US) dollar. The peso also plummeted to another all-time low last Friday, finishing at P60.55 per dollar.

Like India, the Philippines is grappling with vulnerabilities from oil price shocks, which have led the peso to reach a new all-time low, according to DBS senior forex strategist Philip Wee and forex and credit strategist Chang Wei Liang.

“Similarly, the peso remains highly vulnerable,” Wee and Liang said. Last Friday, the peso breached the 60.5 level as geopolitical tensions in the Middle East intensified, and the central bank stood firm in its view that there is no immediate need to defend the currency.

Wee and Liang said the Philippines stands as “most exposed to oil price pass-through due to zero subsidies and a 90 percent energy reliance on Gulf energy.”

Japanese financial giant MUFG Bank Ltd. and think tank Capital Economics also emphasized the Philippines’ high exposure to external market volatility, which is hurting the peso amid investors’ risk-off sentiment.

MUFG analysts said the peso is among the “weakest performers in the region” last week, declining by a total of 4.9 percent since the Israel-Iran conflict flare-up. It was surpassed only by the Thai baht, which has dropped 5.9 percent month-to-date.

Following the peso are the declines in the South Korean won (4.7 percent), Indian rupee (4.1 percent), and Malaysian ringgit (three percent). Meanwhile, the Vietnamese dong and Chinese yuan have been the most resilient currencies, with only around a one percent decline each.

DBS said that the Bangko Sentral ng Pilipinas (BSP) is facing a dilemma: it must contain skyrocketing consumer prices while defending the peso amid extreme vulnerability to the worsening energy crisis, with the impacts more pronounced in heavy oil-importing economies.

Citing metrics from an Institute of International Finance (IIF) study, Wee and Liang labeled the currencies of the Philippines, South Korea, and Malaysia as “somewhat vulnerable” to oil price spikes stemming from the Middle East war.

Such metrics include direct trade exposure to oil imports, the growth impact of oil usage intensity, and vulnerability to agricultural and fertilizer supply shocks.

DBS assessed India, Thailand, and Vietnam as the most vulnerable to oil market shocks, while China and Indonesia are the least sensitive.

Despite the peso’s recent weakness, DBS projects the local currency to rebound toward 57.8 per dollar by the end of 2026. However, the pair is also seen climbing back to 59.9 by late 2027 and remaining within the 59 level through 2030.

Let me end this post by asking you readers: What is your reaction to this recent development? Do you think the government of the Philippines and its economic managers will be able to execute moves to prevent strengthen the Peso ensuring economic growth?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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