Malacañang on Sunday praised businesses that have chosen to defer price increases despite soaring fuel costs triggered by tensions in the Middle East.
Executive Secretary Ralph Recto lauded companies that opted to absorb rising costs instead of passing them on to consumers, calling it an act of solidarity.
“As we do these, we commend businesses that have deferred price increases as an act of solidarity with the public, commendably placing patriotism before profits,” Recto said.
The Palace issued the statement as government agencies continue efforts to cushion the impact of volatile global oil prices.
Officials have secured 1.04 million barrels of diesel, with initial shipments expected to arrive this week, while private firms such as Petron and Seaoil are sourcing fuel from non-traditional suppliers to stabilize supply chains.
Relief measures are also being implemented, including fuel discounts for transport groups, assistance for farmers and fisherfolk, and energy conservation programs across government offices.
In addition, the government has adopted cost-cutting measures in its international engagements, shifting the country’s hosting of ASEAN meetings to an “econ mode,” with hundreds of sessions moved online to reduce expenses.
Local government units have likewise stepped in by offering free rides and transport subsidies to ease the burden on commuters.