Malacañang on Monday (New York time) urged the public to avoid panic buying despite ongoing tensions in the Middle East, assuring that fuel and essential commodity supplies remain sufficient.
At a press briefing held at the Hilton Garden Inn, Communications Undersecretary and Palace Press Officer Claire Castro said government monitoring has not detected unusual price movements in basic goods nationwide.
“Sa ngayon po, ang sabi naman po, tulad ng aking sinabi kahapon sa DTI (Department of Trade and Industry), wala naman daw po movement ng price sa mga basic commodities natin sa NCR (National Capital Region) at sa ibang mga region,” Castro said.
She encouraged the public to report abnormal price hikes to the Department of Trade and Industry and the Department of Energy so authorities could respond immediately.
Castro acknowledged that fuel prices are expected to rise starting Tuesday due to global market developments but noted that oil companies committed to staggered adjustments to ease the impact.
“Hindi po kailangan magkaroon ng panic buying dahil kumpleto naman po at enough pa po ang supply, lalong-lalo na ang ating fuel at ng ating mga basic commodities,” she said.
She also reiterated the government’s warning against hoarding and profiteering.
“Kapag kayo ay nahuli na lumalabag sa batas, nahuli na nag-hoard or umaksyon o gumawa ng profiteering, hindi po kayo tatantanan ng ating pamahalaan dahil kayo po mismo ay madedemanda at kakasuhan,” Castro added.
Authorities are reportedly studying additional measures to cushion the economy from potential oil price shocks triggered by the Middle East crisis.