Pres. Ferdinand Marcos Jr. Photo courtesy of PCO.
President Ferdinand Marcos Jr. said there is no immediate concern over food and fuel availability in the country despite the ongoing Middle East conflict.
He made the statement on Wednesday after inspecting a public market in San Juan City, where he observed stable prices and adequate supply of basic goods.
Marcos said vendors have been cooperating in keeping prices at normal levels, adding that there were no indications of hoarding. He stressed that retailers should not take advantage of the situation.
He also pointed out that price caps set by the Department of Trade and Industry are being followed, while the Department of Agriculture remains confident about sufficient food supply.
The president said the government continues to monitor global developments, particularly oil price movements, which could affect domestic markets.
He said authorities are prepared to adjust excise taxes on petroleum products if necessary, especially to provide relief to the middle class.
Marcos noted that any decision to use such measures would depend on trends in oil prices, as the duration and impact of the conflict remain uncertain.
Earlier, the government rolled out interventions to cushion the effects of rising fuel costs, including cash and fuel subsidies, with aid for drivers already distributed in Metro Manila and set for nationwide rollout in April.
