BUSINESSES in Cebu are working with the Cebu Province to cushion the impact of rising global fuel prices, which could increase transport costs and eventually drive up the prices of goods and services.
In a press conference on Friday, March 13, 2026, Cebu Chamber of Commerce and Industry (CCCI) president Regan Rex King said the chamber is coordinating with provincial officials and other business groups to monitor developments and craft proposals aimed at ensuring stable supply and prices of basic commodities.
“We are going to issue a proposal to the Province, together with the other business chambers,” King said, following their recent meeting with provincial officials to discuss contingency plans should ongoing geopolitical tensions drive fuel costs higher and disrupt supply chains.
Among the measures being considered is the deployment of rolling stores or caravans selling essential commodities — similar to programs implemented during the Covid-19 pandemic — to ensure food, medicine and other basic goods remain accessible to consumers.
Under the proposal, companies could supply products that local governments and partner organizations would distribute to communities, with possible tax offsets or credits for participating firms.
King said business groups and government agencies are also holding weekly coordination meetings to monitor fuel prices, freight costs and supply conditions.
He noted that Cebu’s heavy reliance on imported goods makes the province particularly vulnerable to supply disruptions.
“Most of the things here in Cebu are not produced locally,” he said, adding that some suppliers abroad are reportedly delaying shipments as they assess rising freight costs.
“If shipments slow down, that will affect supply,” he added.
Don’t panic
Despite the risks, business leaders said the immediate impact of the fuel price surge remains limited, with the ripple effects expected to appear only after several weeks.
They also noted that global oil prices remain below the peaks recorded during the Russia-Ukraine conflict.
Anton Mari Perdices, CCCI vice president for business development, urged companies to remain calm and focus on improving efficiency while the situation evolves.
“I think we did okay during the Ukraine crisis, even though prices were much higher then than they are today. I believe we will weather the storm. Everybody has to be proactive and find ways to save costs,” Perdices said.
Some firms, he added, are trying to absorb part of the rising costs instead of immediately passing them on to consumers to help keep economic activity steady.
“The last thing we want is to shut down the economy,” he said, noting that businesses are balancing profitability with the need to protect consumers.
Business leaders also said the current situation could accelerate innovation and the adoption of new technologies, similar to the adjustments made during the Covid-19 pandemic.
Adaptability, innovation
Bryan Yap, chairman of Cebu Business Month 2026, said the pandemic pushed many companies to adopt digitalization, e-commerce and hybrid work arrangements that allowed businesses to continue operating despite restrictions.
He said the same adaptability may help firms cope with new challenges such as rising energy costs, while sustained increases in fuel prices could accelerate the shift toward electric vehicles and alternative energy solutions.
Sector representatives said the impact will vary depending on how much fuel accounts for a company’s operating expenses.
The information technology and business process management (IT-BPM) sector, for instance, is considered relatively resilient due to its widespread adoption of hybrid and flexible work arrangements.
Darwin John Moises, the chamber’s vice president for partnerships, engagement and governance, said the sector had already adapted to remote work during the pandemic, allowing companies to maintain operations even during disruptions.
Meanwhile, the trading sector is focusing on maintaining inventory and monitoring supply chains despite rising costs.
Bernard Vonn Sia, CCCI vice president for Cebu Business Mobilization and a member of the Cebu Contractors Association, said ensuring product availability is crucial.
“Right now, companies are in belt-tightening mode, making sure logistics and operations remain lean while maintaining supply,” Sia said.
“As far as the trading sector is concerned, we want to make sure the supplies are there even if they are more expensive. What is worse for the economy than high prices is having no products at all to sell,” he added.
Even as companies brace for possible challenges, King said CCCI will continue strengthening collaboration with government agencies and industry groups to support businesses and sustain economic growth. / KOC