Today's mega oil price hike has forced some jeepneys to temporarily halt their operation.
This may compound transport problems as some car owners are now considering commuting instead of incurring the high cost of fuel.
In some provinces, diesel prices have reached P90 or more per liter.
Transport groups meanwhile call for the scrapping of the Oil Deregulation Law and the removal of VAT and excise tax on fuel.
A House committee has already approved a proposal to give President Bongbong Marcos the power to suspend the excise tax on fuel, which could cut about P6 off the price of a liter of diesel.
However, Malacañang says the president will still study the measure before deciding whether to certify it as urgent.
The Department of Trade and Industry also warns of possible price increases in pandesal, canned goods, instant noodles, and coffee.
Watch the full report.
24 Oras is GMA Network’s flagship newscast, anchored by Mel Tiangco, Vicky Morales and Emil Sumangil. It airs on GMA-7 Mondays to Fridays at 6:30 PM (PHL Time) and on weekends at 5:30 PM. For more videos from 24 Oras, visit http://www.gmanews.tv/24oras.
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