The Philippine government braces for soaring global oil prices likely to affect domestic prices, as well as the transport and agriculture sectors, following the United States’ attacks on Iran’s nuclear sites.
Full story: https://www.rappler.com/philippines/government-brace-transport-agriculture-sectors-global-oil-price-surge/
00:00The Philippine government braces for soaring global oil prices likely to affect domestic prices as well as the transport and agriculture sectors following the United States' attacks on Iran's nuclear sites.
00:13Iran has threatened to close the Strait of Hormuz, a crucial waterway for 20% of the world's oil shipments, in retaliation to U.S. attacks.
00:21The Department of Energy on Monday, June 23, says oil firms have responded positively to their request of implementing staggered petroleum price adjustments.
00:30DOE's officer-in-charge Sharon Garin says she is set to meet officials from the Transportation and Agriculture departments to discuss targeted fuel subsidies for public transport drivers and farmers.
00:41With higher oil prices, Agriculture Secretary Francisco Chulaurel Jr. says fertilizer will be most affected as well as transport.
00:49The Agriculture Chief says impacts on fertilizer costs may be felt starting October to December, since fertilizers for government distribution had already been procured.
00:58Meantime, 233 Filipinos in Israel request repatriation following the escalating tensions in the Middle East.
01:05The Foreign Affairs Department raised both Iran and Israel to alert Level 3, implementing a voluntary repatriation of Filipinos based there.
01:13Migrant Workers Secretary Hans Kakdak says 26 OFWs have been processed for repatriation and will be on a flight to Manila on Monday, June 23.
01:22The Foreign Affairs Department of Energy on Monday, June 23.
01:23The Foreign Affairs Department of Energy on Monday, June 23.
