SENATOR Christopher Bong Go has proposed urgent economic relief measures as surging global oil prices continue to drive up production costs in the agriculture and fisheries sectors, raising concerns over food supply and affordability.
In filing the “Fuel Crisis Immediate Relief and Response Act” on April 8, 2026, Go highlighted the growing burden of fuel expenses on farmers and fisherfolk, who depend heavily on diesel and petroleum products to sustain operations.
“The agriculture and fisheries sectors are highly dependent on diesel and other petroleum products. Kapag tumaas ang presyo ng petrolyo, tumataas rin po ang bawat hakbang ng produksyon (When the price of petroleum rises, every stage of production also becomes more expensive),” he said.
“Ang pagtaas ng presyo ng langis ay hindi lamang dagdag gastos. Ito ay usapin ng kung sila ba ay makakapagtanim (o makakapalaot) pa sa mga susunod na araw (The increase in oil prices is not just an added cost. It is a question of whether they will still be able to plant (or go out to sea) in the coming days),” Go added in a manifestation.
Rising fuel costs squeezes producers
Recent data and media reports indicate that increases in global crude oil prices have translated into higher domestic pump prices, significantly affecting production costs across food supply chains. Diesel, a key input in both sectors, powers irrigation systems, farm machinery, and fishing boats, making fuel price hikes particularly disruptive.
Agriculture groups have reported rising costs for land preparation, harvesting, and post-harvest processing, while logistics expenses such as transporting inputs and produce have also climbed. These developments have reduced already thin profit margins for farmers, with some scaling back operations to cope with higher expenses.
In the fisheries sector, operators have likewise been forced to adjust. Reports show that some fisherfolk are shortening fishing trips or reducing frequency due to fuel costs, resulting in lower catch volumes and income instability. Industry observers warn that prolonged fuel price increases could discourage production and eventually impact food supply.
Global pressures driving local impact
Go pointed to geopolitical tensions in West Asia as a key factor behind oil price volatility, particularly disruptions involving major producers and critical shipping routes such as the Strait of Hormuz. Recent global benchmarks have seen crude oil prices exceed $115 per barrel, intensifying pressure on oil-importing economies like the Philippines.
As a result, the country has experienced rising transportation costs, increased prices of basic goods, and weakened purchasing power among consumers, effects that are more pronounced among low- and middle-income households.
Proposed safeguards
The proposed measure outlines several interventions aimed at easing financial pressure. These include a two-month deferment of contributions to government institutions such as the Philippine Health Insurance Corporation, Social Security System, Government Service Insurance System, and Home Development Mutual Fund, with payments to be staggered over succeeding months.
The bill also provides a 30-day grace period for loan payments from state-run lending institutions without penalties, offering temporary relief to borrowers affected by rising costs.
In addition, the measure directs the Department of Trade and Industry to strengthen enforcement against hoarding, profiteering, and price manipulation to protect consumers and ensure fair market practices.
Food security at risk
Experts have warned that sustained fuel price increases could have longer-term implications for food security, as higher production costs may translate into reduced output and elevated market prices. With agriculture and fisheries forming the backbone of the country’s food supply, policymakers are under increasing pressure to mitigate the impact of external shocks.
Go said the proposed measure aims to provide immediate relief while broader strategies are pursued to stabilize the economy and safeguard vulnerable sectors from ongoing global uncertainties. DEF
