CEBUANO families and shop owners are bracing for a "ripple effect" as tensions in the Middle East threaten to push global oil prices toward $100 per barrel. While there is currently enough gas to go around, experts warn that the cost of moving goods—and the price of the goods themselves—is about to go up.
No shortage, but higher costs
The good news is that the Philippines isn't running out of fuel. President Ferdinand Marcos Jr. assured the public on Tuesday, March 3, 2026, that the country has a 50 to 60-day supply of gasoline and kerosene.
However, even if the tanks are full, the price to refill them is rising. Erik Lim, president of Top Line Business Development Corp., explained that because the Middle East is a major oil hub, any conflict there makes global traders nervous, which drives up prices everywhere.
For people in Cebu, this isn't just about the gas station; it’s about the supermarket. Robert Go of the Philippine Retailers Association–Cebu Chapter warned that when oil prices jump, "everything increases."
How it affects you:
Transport: It costs more to run delivery trucks and ships.
Groceries: Higher shipping costs mean higher prices for rice, canned goods, and meat.
Electricity: Many power plants rely on fuel, which could lead to higher monthly bills.
To fight these hikes, some local stores are trying to save money by making fewer delivery trips and packing their trucks tighter.
President Marcos mentioned that the government is looking at ways to soften the blow if oil prices stay high. These plans include:
Fuel Subsidies: Cash help for drivers and farmers.
Free Bus Rides: To help workers get to their jobs without spending more on fare.
Tax Cuts: A temporary lower tax on fuel to keep pump prices down.
While some international oil groups (OPEC+) plan to produce more oil starting in April, the situation remains unpredictable. For now, Cebuano businesses are watching the news closely. The conflict may be thousands of miles away, but its impact is being felt every time a local shopper reaches for a receipt.