(REUTERS) Motorists queued at petrol stations in Manila on Monday (March 9) ahead of a significant fuel price increase driven by the ongoing conflict in the Middle East.

The Philippines’ energy department said fuel prices would rise by 17–24 (0.29-0.41USD) pesos starting March 10, with the increases to be rolled out in stages through the week. Officials warned that more hikes were likely if the situation in the Middle East continues.

Jeepney driver Ric Perez said the price increase would directly hit the livelihoods of many, with the transport sector bearing the brunt of the higher costs. He brought his fuel container to stock up before the new prices took effect.

Early on Monday, about two dozen activists held a protest near a petrol station in Manila, denouncing the price hikes and urging the government to regulate fuel prices.

Public transport group Piston President Mody Flaranda said jeepney drivers, who earn an average of 600 pesos (US$10.30) a day, risk losing their income if fuel prices remain uncontrolled.

President Ferdinand Marcos said his government is preparing measures to cushion the impact of rising oil prices, including reducing the excise tax on fuel, providing fuel subsidies for the transport sector and directing some government offices to adopt a four-day work week.

Posted by: AAngeles/NET25 News