In the Philippines, May is the month of fiestas. Filipinos spend a lot of time, money, and effort preparing for this. Even if gasoline prices are increasing, do you think Filipinos would still spend as much?
Yes. Filipinos highly value tradition and a fiesta means lots of food and entertainment--meaning, spending.
44%
No. They can't afford to waste that much money anymore.
33%
No. Fiestas are only celebrated extravagantly in the provinces.