In a firm statement issued on Tuesday, March 10, 2026, Malacañang has strongly urged the public to avoid panic buying, while simultaneously providing reassurances that the nation maintains sufficient stocks of essential goods amidst the escalating oil crisis triggered by worsening tensions in the Middle East.
Government Assurance on Supply Stability
During a press conference held in New York, Palace Press Officer Undersecretary Claire Castro reiterated the administration's position. She confirmed that the country is currently maintaining adequate supplies of gasoline and other critical commodities, with prices expected to remain stable for the foreseeable future.
"At present, as I mentioned yesterday in discussions with the Department of Trade and Industry, there has been no movement in the prices of our basic commodities within the National Capital Region and other regions," Castro stated emphatically.
Preparedness Amid Global Uncertainty
Despite these assurances, Castro emphasized that Filipinos must remain prepared for any potential developments resulting from the ongoing Middle East conflict. The government, under the leadership of President Ferdinand Marcos Jr., is actively implementing measures to mitigate the possible effects of this international disturbance on the domestic economy.
"While this situation is not of our making and not desired by our government, the continuing tensions in the Middle East necessitate preparedness among our citizens. However, there is no need for panic buying because our supplies are complete and sufficient, particularly our fuel and basic commodities," she added during her detailed explanation.
Vigilance Against Unlawful Practices
The official also called upon the public to immediately report any instances of unreasonable price increases for basic necessities and petroleum products to the relevant government agencies. This appeal forms part of a broader crackdown on exploitative practices during times of crisis.
Castro issued a stern warning to potential violators: "So, if you are caught violating the law, caught hoarding or engaging in profiteering activities, our government will not relent in pursuing you because you yourselves will face charges and legal prosecution."
Call for National Unity
Echoing the President's sentiments, Castro emphasized the importance of national solidarity during this challenging period. The administration's message focuses on collective responsibility and mutual support rather than individual exploitation of the situation.
"The President's call is for us to unite regarding what is currently happening in the Middle East; we should unite and help each other. What the President wants is for us to work together. If you take advantage, there will be consequences. You will face charges and may lose the opportunity to conduct business," she further elaborated, highlighting the serious repercussions for those who choose to exploit the crisis.
The government's comprehensive approach combines supply assurance, price stability monitoring, public preparedness guidance, and strict enforcement against market manipulation, creating a multi-faceted response to the international oil crisis affecting the Philippines.
