Thread by @rapplerdotcom

NOW: In this episode of By The Numbers, Rappler talks to Vic Dimagiba, the president of Laban Konsyumer. Dimagiba was an undersecretary at the Department of Trade and Industry.

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What's behind the increase in oil price?

Dimagiba says this can be attributed to two things: 1) more citizens are getting vaccinated, people can now go out, driving the economy again; 2) this is the time for oil producing countries to recover revenues.

Dimagiba suggests that the president invoke his powers to temporarily suspend excise taxes to help minimum wage consumers.

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Dimagiba warns of the possible problem in supply of oil: "Winter is coming for these countries, they will be consuming more."

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In consideration of the pandemic, Dimagiba suggests the government can also 'reimpose prize freeze in basic products' such as rice, canned goods, meat, and fish.

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Price of rice is also going up, observes Dimagiba. He says this may be an effect of hampered commodity transport and disaster-stricken North Luzon.

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Fuel subsidy from oil companies? Don't expect that from them, says Dimagiba.

He returns to the idea that the government should suspend excise taxes temporarily.

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Will the government respond properly before Filipino consumers get stifled by rising prices of basic commodities?

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