KUALA LUMPUR: Last-minute selling dragged the FBM KLCI lower on Thursday ahead of the long weekend, as escalating U.S.-Israeli tensions with Iran rattled sentiment and lifted oil prices.
Thousands of jeepney drivers took to the streets across the Philippines on March 19 to protest against a more-than-doubling of local diesel prices. - Photo: EPA MANILA: The ripple effects of the war in the Middle East are hitting home hard for Philippine jeepney driver Toni Prado, whose daily earnings have been gutted by soaring fuel prices .
He was one of thousands of jeepney drivers who took to the streets across the country on Thursday to protest against a more-than-doubling of local diesel prices after global oil prices surged because of the US-Israel war on Iran.“Before I could earn at least 1,000 pesos for three trips, now I only take home 200 pesos,” said the father of four. “How can I support my children? How can I send my daughter to school? How do I pay for electricity, water, and food?” The Philippines relies heavily on Middle Eastern oil, and the surge in fuel prices is threatening to stoke inflation in the consumption-driven economy. Like many of its South-east Asian neighbours, Manila has taken steps such as shortening the work week and providing fuel subsidies to counter the impact of rising costs. This week, Congress granted the president emergency powers to suspend or reduce fuel taxes. Mody Floranda, who heads the transport group leading the national strike, said those measures were not enough, and called for the repeal of a law that stripped the government of its authority to control fuel prices. Drivers said the pain of surging diesel prices was compounded by the suspension of a fare hike that could have provided some relief. Jeepneys, which were originally created from abandoned US military jeeps after World War II, are a vital mode of public transport across the Philippines. Reggie Manlapit, who has been a jeepney driver for two decades, said he needs to work longer hours but still gets less pay. “Because of what’s happening, we work longer hours and we’re lucky if we can take home 200 pesos,” he said. - ReutersReconciliation efforts reflect maturity of the people, enhance solidarity, says AnwarSabah Governor Musa Aman's official birthday celebrations to be done prudently, says state govt
Jeepney Drivers War In The Middle East Soaring Fuel Prices US-Israel War On Iran Income Loss Inflation Fuel Subsidies National Strike Emergency Powers
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