High Fuel Prices Won’t Cause Food Shortages, Marcos Assures
MARCOS – As fuel costs soar, Marcos emphasized that citizens don’t need to hoard basic goods because the government is monitoring prices closely.
President Ferdinand Marcos Jr. reassured the public that there is no need to panic or hoard food supplies despite concerns over rising fuel prices and their possible impact on inflation. On Wednesday, March 18, the chief executive personally inspected a wet market in San Juan alongside representatives from the Department of Agriculture and the Department of Trade and Industry to check on the prices of basic commodities.
During the visit, Marcos emphasized that the government is actively monitoring the situation to prevent any sudden spikes in the cost of goods. He underscored that maintaining stable prices remains a top priority, especially as global developments continue to affect oil markets.
“Ang supply natin, maganda naman ang supply natin ng pagkain, ng bigas, lahat ng mga basic goods. Kaya ‘yung ating mga kababayan sinasabi natin, hindi naman kailangan mag-hoarding at hindi tayo nagkukulang sa food supply,” Marcos said.
The President also warned vendors not to take advantage of the ongoing crisis in the Middle East by arbitrarily increasing prices. He reminded them to follow government-mandated pricing to protect consumers from unnecessary financial strain.
“Everything is normal and we’ll just keep working to make sure that it stays that way,” Marcos said.
Meanwhile, both chambers of Congress have approved a measure that would grant the President emergency powers to suspend excise taxes on fuel, a move seen as a potential relief amid soaring oil prices. However, Marcos clarified that no final decision has been made regarding when these powers will be exercised.
“Despite Marcos certifying the measure as urgent, he did not say when he will use those powers. We will see. Depends on the trends. We have to watch the trends on oil prices. We just have to look. It’s very hard to say because it’s all speculation. We don’t know how long this will last for,” Marcos said.
Fuel prices have surged to record levels as tensions persist between Israel and Iran. While the government has started rolling out fuel subsidies, concerns remain over the long-term impact of high oil prices on the cost of living.
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