Greate Deals

The Price Hike in the Philippines

The Philippines is currently experiencing a massive price hike in oil prices, which has led to an increase in other commodities such as electricity, and other gasoline-related products like food, household necessities, and more. The horrendous increase in prices boils down to the current conflict between Russia and Ukraine, which has been going on for almost 4 months now. With Russia being a key player in exporting oil, economic sanctions placed by some countries in Europe and the United States against Russia in order to prevent the conflict from developing further have been both positive and negative in terms of the effect.

Unfortunately, these sanctions have led to the increase in the price of gasoline and electricity, due to Russia being unable to export coal. The global effect is undeniable, especially here in the Philippines, where gasoline and electricity prices are at an all-time high.

In Cebu, the electricity cost per kWh is around Php 15, compared to the previous rate of Php 12 from Visayan Electric. Nationwide, gasoline prices are still increasing at alarming rates with almost a net increase of Php 25 per/liter of gasoline and Php 29 per/liter of diesel.

Luckily, there are several ways we could lessen our dependence on gasoline and enjoy cheaper electricity, by finding alternative options to commute or making the switch to renewable energy.

With solar, one can utilize the Philippines’ long hours of sunlight, to harness sustainable energy for your home.

Price Hike Inforgraphics

To learn more about how you could slash up to 50% of your electricity costs, spark a conversation with one of our solar experts now at info@buskowitz.com or visit our Solar Home shop page.

Leave A Comment