Retailers optimistic, but wary of rising fuel cost

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By BusinessWorld

Local retails are optimistic about their recovery prospects as mobility restrictions ease, but the effects of the Russia-Ukraine conflict have brought uncertainty as rising fuel prices weigh down businesses.

“So far, [there is] greater mobility now in retail. Most of the members are optimistic now, though the conflict in Eastern Europe is another (thing) to watch out,” said Rosemarie B. Ong, president of the Philippine Retailers Association via a mobile phone message.

Ms. Ong said there is still uncertainty since the country is still recovering from the the effects of the coronavirus disease 2019 (COVID-19) pandemic and is now facing new issues such as high fuel prices.

Meanwhile, retailers are keeping tabs on the Russia-Ukraine conflict.

“Everything is still uncertain, we are just recovering from COVID-19 and now, here comes the oil price hike and the conflict in Eastern Europe. But there are many people in malls already,” she said.

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