The Department of Energy (DOE) has reassured the public that there is no need for panic buying, citing sufficient oil supply in the country and active monitoring by government agencies.
Following President Ferdinand Marcos Jr.’s directive, the DOE emphasized that any increase in petroleum prices must follow the approved schedule, with unauthorized or premature hikes strictly prohibited.
“The Department of Energy, together with the Department of the Interior and Local Government and the Philippine National Police, has intensified inspections of fuel stations to prevent hoarding, profiteering, or supply manipulation,” the agency said.
The DOE urged consumers to remain calm, stressing that the government is taking necessary steps to ensure stable fuel supply and fair pricing nationwide.