Public fears fuel price spikes to impact other commodities

CEBU, Philippines - Reports on fuel supply shortage coupled with spiking fuel prices brought fears to Cebuano consumers that these might create a negative impact towards the prices of other commodities especially now with holiday season inching closer each day.

However, the latest weekly price monitoring report of the Department of Trade and Industry showed that prices of goods in the market have not posted alarming changes.

As of the November 9, only a few products of basic necessities and prime commodities in the monitored wet markets and supermarkets have increased.

For processed milk, condensed milk showed almost P2 increase or more than 3 percent rise in prices as it went up from P44.80 to P46.30 since last week to this week.

Processed meat like luncheon meat also showed a 3 percent increase from P26.95 in supermarkets last week to P27.95 this week.

Mixes in food like vinegar and soy sauce also showed a little increase in price. Vinegar this week is priced at P11.00 for 350ml, which rose from P10.65 last week in supermarkets which was at P10.25 in the same time last year.

Soy Sauce was at P12.10 from its price last week of P11.00 in wet markets.

However, aside from these, prices for other basic necessities still remained the same.

Coffee remained at P14.60 per 25 g for one brand while instant noodles also had the same prices last week at P6.50 a pack.

Corned beef, bread, sardines and salt all stayed in the same price this week compares to the weeks before as well as detergent and laundry soaps. Only toilet soaps for toiletries showed an increase from P26 to P27 this week.

Prices for electrical supplies remained the same like for fluorescent lamps which is at P20 and fuses also at P20.50.

Construction materials like cement, hollow blocks and steel wires also remained the same.

DTI is closely monitoring weekly price changes at the wet markets with the anticipation of increase in demand from customers in time for the holiday season.