Malacañang says no need for panic buying amid Middle East crisis

Malacañang on Tuesday allayed fears regarding the impact of the Middle East crisis on the country's supply of fuel and basic consumer goods, saying there is no reason for the Filipino public to panic buy at retail outlets.

"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," Palace Press Officer Undersecretary Atty. Claire Castro told the Philippine media delegation in New York City. 

(There's no need for panic buying since we have enough supply, especially our fuel and basic commodities.) 

She said that as per the Department of Trade and Industry (DTI), there is no movement in the prices of basic commodities in Metro Manila and other regions. Castro added that "abnormal" price increases of goods and petroleum products should be reported before the DTI and the Department of Energy. 

"Tulad ng aking sinabi kahapon sa DTI, wala naman daw po movement ng price sa mga basic commodities natin sa NCR at sa ibang mga region," Castro said.

(Like what I said, there's no movement of the price of basic commodities in NCR and in other regions.) 

"At kung mayroon po na magkakaroon ng abnormal price increase na hindi lang po nararapat sa ngayon, maaari po nila agad-agad na ito ay ibigay at ipaalam sa DTI, pati po sa DOE," she added. 

(If there's an abnormal price increase, the public can report it to DTI and even with the DOE.) 

Malacañang issued a stern warning against profiteers who are taking advantage of the continuing tension in the Middle East, noting that the law will go after them.

Last week, President Ferdinand "Bongbong" Marcos Jr. assured the public that the government continues to monitor the prices of basic goods in the market as oil prices are expected to soar. — VDV, GMA Integrated News