New round of oil price hike worsened by rise in food costs - report
MANILA, Philippines - The rise in the prices of petroleum products — the 15th time this year — was made worse by the simultaneous increase in the prices of basic commodities.
Radio dzMM reported that as oil giants Petron and Shell raised the prices of their fuel products by P1.50 on Saturday, the prices of commodities in Metro Manila markets also increased.
According to the report, the prices of cooking oil increased from P2 to P5 per bottle. Price of a small bottle of cooking oil increased from P30 to P32; long neck bottle from P60 to P64 and a one-liter bottle from P80 to 85.
Prices of canned goods have also increased, particularly corned beef from P27 to P30 per small can, and from P38 to P42 per big can. Noodles also increased by P1 or from P5.50 to P6.50 per pack of Lucky Me and from P6.50 to P7.50 of pancit canton.
The Filipinos' staple have also increased continuously. Prices of commercial rice have jumped between P3 and P15, according to the report.
Sinandomeng, which previously cost P35 a kilo, is now being sold at P38. Prices of denorado have risen to P41 per kilo from P40; wag-wag to P40 from P38; and jasmine from P45 to P60.
Also, the report said prices of vegetables rose to 30 percent. - ARCS, GMANews.TV