A new analysis shows that an oil shock may drive more than 396,000 low-income households in the Philippines below the poverty line through higher food and transport costs.
The Congressional Policy and Budget Research Department released projections under different shock scenarios. In the worst case, 396,067 households would fall into poverty. Milder shocks would affect 293,152 households under scenario two and 185,654 under scenario one.
The think tank called on the Marcos administration to broaden cash assistance beyond officially poor families. It stated that limiting relief to the current poor leaves newly affected households unprotected and that extending coverage is more effective and fiscally efficient.
Fuel supply remains adequate. As of May 8, national inventories stood at 50.70 days, within the Department of Energy target. Energy Secretary Sharon Garin urged continued conservation. Diesel prices rolled back on the reporting date and are now expected to fall by at least 9.57 pesos per liter, placing them below gasoline in Metro Manila and other cities.
