Malacañang has cautioned businesses against hoarding supplies or engaging in profiteering as tensions in the Middle East continue to disrupt global oil markets, warning that violators could face legal consequences.
Communications Undersecretary and Palace Press Officer Claire Castro stressed that the government is ready to act against those exploiting the situation.
“Alam naman po natin na may batas sa mga aksyon ng hoarding at profiteering, na inaabuso ang ganitong klaseng sitwasyon na hindi naman kinakailangan na sila ay magtago o lumaki po ang kanilang kita o tubo dahil hindi pa ito napapanahon,” Castro said.
She added:
“Kapag kayo ay nahuli na lumalabag sa batas, nahuli na nag-hoard or umaksyon o gumawa ng profiteering, hindi kayo tatantanan ng ating pamahalaan dahil kayo po mismo ay madedemanda at kakasuhan.”
The warning followed the Department of Energy’s issuance of show-cause orders to 54 gasoline stations suspected of prematurely raising fuel prices amid volatility in global oil markets.
The Middle East remains a critical source of global energy, and escalating tensions have heightened concerns about possible oil price spikes that could drive up fuel and commodity costs in import-dependent countries like the Philippines.
Castro also echoed President Ferdinand Marcos Jr.’s call for unity as the government prepares measures to cushion the economy from rising fuel costs.
“Ang panawagan ng Pangulo ay magkaisa tayo kung ano po ang nangyayari po ngayon sa Middle East, dapat tayo magkaisa at magtulungan. Ang gusto po ng Pangulo ay magtulungan tayo. Kapag kayo ay nagsamantala, mayroon po kayong kalalagyan. Kayo po ay madedemanda at maaaring matanggalan po kayo ng pagkakataon na kayo ay makapagnegosyo,” she said.
Authorities are studying additional interventions, including possible fuel subsidies and tax adjustments, to mitigate the impact of global oil price increases on the Philippine economy.