Black Market Emerges As Fuel Crisis Deepens

Traders put a mark-up of more than 300%, taking advantage of desperate drinkers and smokers. The trend has returned, but this time around, it is fuel, which is sold on the parallel market. A five-litre container of fuel fetches around P50 on the black market, compared to the regular price of P35. With the fuel crisis unabated, black market prices are expected to skyrocket.

Traders buy the fuel and approach motorists who are desperate and offer them the product at, at least, double the price, sources said. There is concern that some people keep the product at home or in offices, as they wait for clients. Police are concerned, as fuel is a flammable product, and should be kept in a proper manner.