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Middle East conflict poses risks to economy, exporters—analysts By Thony Rose Lesaca and Othel Campos THE ongoing conflict in the Middle East could expose the Philippine economy to new credit risks by putting pressure on en-
ergy imports, remittances, fiscal subsidies, exchange rates and access to international finance, according to Fitch Ratings. In a commentary dated March 6, the debt watcher said the Philippines is among Next page
VOL. XL • NO. 28 • 3 SECTIONS 16 PAGES • P20 • TUESDAY, MARCH 10, 2026
Oil prices hit highest jump yet Gas: P7 to P13/l; Diesel: P17.50 to P24.25/l; Kerosene: P32 to P38.50/l STAGGERED FUEL PRICE ADJUSTMENTS (MARCH 10-16)
By Alena Mae Flores, Charles Dantes, Vince Lopez and Maricel V. Cruz
O
IL firms will implement historic high increases in fuel prices of as much as P24.25 per liter for diesel and P38.50 per liter for kerosene but will do a staggered rollout from today (March 10) until Monday next week (March 16) in a bid to cushion the impact of the massive spike amid the Middle East crisis.
Energy Secretary Sharon Garin described the movement as the “highest jump” in fuel prices during yesterday’s hearing of the House Committee on Ways and Means on a proposal to temporarily suspend excise taxes on fuel following a request from President Ferdinand Marcos Jr. “It will not be a one-time implementation. Oil firms have agreed to stagger the increases. Some have agreed to do P2.50 per day, some P10 (today),” Garin said. Based on the schedule of the staggered implementation of pump prices posted by the DOE on social media, Shell will increase pump prices over a period of three days: P14.55 on March 10, P7.30 on March 11, and P2.40 on March 12 for a total of P24.25 per liter for diesel. For gasoline, Seaoil will implement the price hike from today until tomorrow: P5.50 to P6.50 on March 10 and another P5.50 to P6.50 on March 11 for a total range of P11 to P13 per liter. For kerosene, Chevron will implement the increases over seven days at P5.50 per day for a total of P38.50 per liter. “It’s a deregulated industry, so we do not have the power to regulate the price. We monitor, they report, they justify, but the DOE does not have teeth in that sense, Next page
STAGGERED. Oil companies,
table at left, agree to stagger the surge in fuel prices starting today until March 16. Inset at top left shows light traffic yesterday in both lanes at EDSA while commuters, bottom left, crowd the Metro Rail Transit trains traversing EDSA. DOE, Manny Palmero, Lino Santos.
*Update as of March 08, 2026 3:30PM
Iran targets Gulf oil installations PBBM orders free calls for Middle East OFWs as oil prices shot up to $100/b IRAN launched fresh strikes on energy installations in the Gulf on Monday, including a petroleum complex in Bahrain, as oil prices soared on fears over supply disruptions due to the Middle East war. Oil prices surged above $100 a
barrel for the first time in nearly four years on Sunday over worries that the spiralling Middle East war could create prolonged supply disruptions. Both crude oil benchmarks, the West Texas Intermediate (WTI) and Brent, Next page
By Charles Dantes, Rio N. Araja, Maricel V. Cruz, and Pot Chavez
PRESIDENT Ferdinand Marcos Jr. has directed major telecommunications companies to provide free services for overseas Filipino workers in the Middle East amid the ongoing regional conflict. Meanwhile, the Land Transporta-
House passes proposed abolition of travel tax NEWS / A3
tion Franchising and Regulatory Board (LTFRB) said it will revise its proposed provisional fare increase following the sharp rise in fuel prices.
On the other hand, the LTFRB is gearing up to roll out the government’s fuel subsidy program for public utility vehicle operators and drivers. This as a lawmaker urged the Department of Transportation (DOTr) to offer free rides at the Light Rail Transit (LRT) and Metro Rail Transit (MRT) systems on selected days to help comNext page
Sandigan orders Alex enters last 16 with 6-2, 2-0 seizure of Zaldy lead after injured Coco retires Co’s assets By Peter Atencio
By Maricel V. Cruz
IN NEW YORK. President Ferdinand Marcos Jr. and First Lady Liza Araneta-Marcos huddle with PH envoy to the US Babes Romualdez, right, and PH Representative to the UN Enrique Manalo, upon arrival at the Newark Liberty International Airport in New Jersey. PCO
THE Sandiganbayan has ordered the seizure of at least 16 real estate properties belonging to former congressman Zaldy Co who is facing graft charges in relation to the flood control mess. Meanwhile, Mamamayang Liberal party-list Rep. Leila de Lima, joined by 2025 Ramon Magsaysay awardee Fr. Flaviano Villanueva, filed several complaints against lawyer Levito Baligod
FRESH from a stunning victory over Coco Gauff, Filipina tennis star Alex Eala now turns her focus to a familiar rival as she faces Linda Noskova in the fourth round of the BNP Paribas Open in Indian Wells on Wednesday. The 20-year-old Eala advanced to the last 16 after Gauff retired
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Palace says UNSC bid strengthens PH voice By Charles Dantes MALACAÑANG on Monday defended the Philippines’ bid for a non-permanent seat on the United Nations Security Council, saying the move would strengthen the country’s voice in shaping global peace and security policies. Claire Castro, undersecretary of the
Presidential Communications Office, said the initiative should be viewed as an opportunity for the country to contribute to international decision-making rather than as a source of criticism. “That is what becomes unfortunate among some of our fellow Filipinos. Instead of being seen positively, it becomes negative. What we hear instead
are statements that undermine the integrity of the Philippines—like crabs pulling down whatever capacity our country has,” Castro said. Castro said a non-permanent seat on the council would allow the Philippines to help shape international agendas and take part in discussions affecting global Next page
SPORTSMANSHIP. Coco Gauff of
the United States and Alexandra Eala of the Philippines hug at the net after Gauff retired from their third round match of the BNP Paribas Open at Indian Wells Tennis Garden due to an arm injury on March 08, 2026 in Indian Wells, California. AFP
from their third-round match with a left arm injury while trailing 6-2, 2-0. The American star later described the pain Next page