(The strength of the peso must also be considered and not just fuel prices. For example, even if oil prices costs just $50, but say the peso would hit P80 to the dollar, gasoline prices would still jack up.)



Socioeconomic Planning Secretary Ernesto Pernia admitted that the price increases are alarming because “it’s quite abrupt,” but said that there are safeguards in place.



“There are already provisions like the pantawid pasada (subsidy for drivers) and also the unconditional cash transfer program. They just have to be speedily dispersed,” Pernia said.



However, he noted that the public has been used to lower inflation in recent years.



“We need to look at inflation in perspective. We used to hit double digits then, and now it’s much lower. We are just a bit more sensitive now,” Pernia said.