Rising oil prices no 'immediate effect' on grocery items: stakeholder

ABS-CBN News

Posted at Oct 21 2021 10:45 AM | Updated as of Oct 21 2021 11:10 AM

People line up at a grocery in Quezon City on August 5, 2021, a day before Metro Manila is placed under enhanced community quarantine. Mark Demayo, ABS-CBN News/File
People line up at a grocery in Quezon City on August 5, 2021, a day before Metro Manila is placed under enhanced community quarantine. Mark Demayo, ABS-CBN News/File

MANILA - The continued hike in the prices of petroleum products has no immediate effect on the prices of grocery items, a stakeholder said Thursday.

Fuel prices spiked for 8 straight weeks, which brought gasoline prices to over P60 per liter and diesel to over P50 in Metro Manila. 

Fuel costs affect delivery expenses which are just a fraction of the total operations of manufacturers and grocery operators, Philippine Amalgamated Supermarkets Association president Steven Cua said.

"It doesnt happen na kaagad magtataas ang presto ng bilihin (for prices to hike immediately). Tatamaan din (it will hit) cost of delivery kaya lang (but) it’s just a component of the total operations," Cua said.

"Walang immediate effect. Although nagtataas ang presyo ng bilihin, every month meron, may mga increases, adjustments in prices," he added. 

(There is no immediate effect. There is a routine increase in prices every month, adjustments)

Inflation, or the speed of the rise in consumer prices, settled at 4.8 percent in September, still above the government target of 2 to 4 percent.

Cua said there are no official prices yet for food bundles for the upcoming holidays. 

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