Malacañang has urged the public not to engage in panic buying despite the continuing rise in oil prices linked to the conflict between the United States–Israel alliance and Iran.

The Palace said preparation is important, but buying more than necessary could worsen supply pressures.

President Ferdinand Marcos, Jr. earlier reminded the public that readiness is necessary in uncertain times, especially as tensions in the Middle East continue.

An economist and local officials in Dagupan City echoed the President’s call, warning that panic buying could disrupt supply and drive prices higher.

Dr. Daniel Gonzales, dean of the School of Business and Accountancy at Universidad de Dagupan, said excessive buying can create instability in the market.

“Ang long-term effect niyan, ‘yung stability ng production at prices, magpa-fluctuate ‘yan, up and down. Hindi advisable ang panic buying lalo ‘pag hindi natin sigurado na ang production and supply ay continuous o consistent na enough,” Gonzales said.

Dagupan City Mayor Belen Fernandez also said there is no reason to panic at this time.

“Sa ngayon, stable ang supply. So, if you do the panic buying, doon tayo mauubusan,” Fernandez said.

At a supermarket in the city, management said prices of basic goods have not changed so far, even as fuel prices continue to rise.

However, they said price adjustments may be possible in the coming weeks depending on supply costs.

The store also said it has not seen customers buying goods in bulk.

“Wala pa naman. Pero sa iba, bumibili pa rin paisa-isa na bigas, dalawa. Siguro para rin sa proteksyon nila just in case tumaas,” George Caoile, assistant operations manager, said.