By I. Inojales | 07:36 PM April 10, 2026
MANILA — Senator Paolo Benigno “Bam” Aquino IV has raised alarm over a deepening energy and cost-of-living crisis, warning that surging fuel prices could soon trigger a nationwide food crisis if the government fails to act swiftly.
With diesel prices surpassing P150 per liter and LPG reaching as high as P1,600 per tank, Aquino said Filipino households are already bearing the brunt of escalating costs, stressing that immediate intervention is needed.
During a recent Senate Committee on Agriculture hearing, Aquino outlined the worsening impact of the crisis on the Philippine economy, linking it to ongoing tensions in the Middle East and their effect on global fuel supply.
He noted that the Philippines has experienced some of the steepest fuel price increases globally, with diesel prices rising by nearly 60 percent in just one month.
Aquino emphasized that the most affected sectors are farmers, fisherfolk, and small-scale earners who sustain the country’s food supply.
“Apatnapung araw na ang nakalipas mula nang nagsimula ang krisis… Ramdam na ramdam po ng bawat pamilyang Pilipino ang bigat ng sunod-sunod na pagtaas ng presyo, sino po ang pinaka nasasaktan? Siyempre po ang ating mga maliliit na negosyo. Mga tsuper, mga arawan na isang kayod, isang tuka. Ang mga nagtitinda po sa palengke na araw-araw ay pasan ang bigat ng renta sa pwesto. Ang bawat pisong pambayad sa renta o mahal na langis ay direktang bawas sa kakarampot na kita nila na pambili ng pagkain ng kanilang pamilya,” Aquino said.
Aquino warned that even if a ceasefire is maintained in the Middle East, the continued rise in fuel and fertilizer prices—now up by as much as P800 per bag—could push food prices even higher by July or August.
He also criticized the delay in suspending excise taxes and value-added tax (VAT) on petroleum products, pointing out that countries such as Vietnam and India have already reduced fuel taxes, while others like Pakistan and Ethiopia have resorted to emergency measures including subsidies and school closures.
Citing global examples, Aquino said prolonged inaction could lead to severe consequences, including disruptions in essential services.
“Kailangang mabilis tayong gumalaw dito. Hindi tayo pwedeng papatay-patay. Kasi if we don’t move, if we don’t do the necessary programs, everyone will suffer,” he said.
The senator is now calling for the immediate removal of excise taxes on fuel and a clear update on the proposed suspension of VAT on petroleum products. He also urged the government to go beyond subsidies and ensure the steady supply of essential medicines, amid inflation rising to 4.1 percent.
Aquino emphasized the need to protect three critical sectors—markets, hospitals, and schools—warning that failure to support the country’s estimated 6 million farmers and fisherfolk could lead to a full-blown hunger crisis.
“Huwag po nating hintayin ang punto na kailangan pong mamili ang taong bayan kung sino po sa kanila ang kakain sa kanilang pamilya. Agaran po ang ating aksyon para matigil po natin ang patuloy na pagtaas ng presyo ng pagkain,” he said.
He reiterated that without immediate action, the situation could worsen significantly.
“Paulit-ulit ako, kung wala tayong gagawin, ito yung posibleng mangyari: tataas yung presyo and yung production natin will go down.”
