Gov’t urged to monitor prices of oil, basic goods

The government should closely monitor the prices of basic commodities and products, Senator Sherwin Gatchalian said Wednesday amid escalating tensions between the United States and Iran in the Middle East.

Dapat masusing bantayan ng gobyerno ang magiging paggalaw ng presyo ng iba't ibang bilihin kasunod na rin ng panibagong girian sa pagitan ng U.S. at Iran (The government should closely monitor any movement in the prices of a variety of goods following the latest hostilities between the US and Iran), he said in a statement.

Inaasahan natin na ang mga kaganapan sa Gitnang Silangan ay maaring makaapekto sa local oil prices na siya naman maaring magdulot ng pagtaas ng mga bilihin sa bansa (It should be expected that the events in the Middle East could affect local oil prices which, in turn, could bring about an increase in the prices of goods in the country), Gatchalian said.

The chair of the Senate Committee on Energy urged concerned government agencies to take proactive actions to prevent unscrupulous traders from taking advantage of the events unfolding in the oil-rich region.

Upang tiyakin na hindi sasamantalahin ng mga mamumuhunan ang sitwasyon sa Gitnang Silangan, tinatawagan natin ang Department of Energy, Department of Trade and Industry, at Department of Agriculture na magtalaga ng mga tao o di kaya ay bumuo ng task force na masigasig na magbabantay sa paggalaw ng presyo ng produktong petrolyo at mga pangunahing bilihin sa merkado (To prevent traders from taking advantage of the Middle East situation, I call on the DOE, DTI, and the DA to assign personnel or create a task force that will diligently monitor the movement in the prices of petroleum products and basic commodities in the market)," Gatchalian said.

Tensions between the US and Iran escalated following the killing of top Iranian commander, Major General Qasem Soleimani in a United States drone strike in Iraq on January 3.

Early Wednesday morning, Iran launched a missile attack on an Iraqi airbase housing US and allied forces, further heightening fears of all-out conflict in the Gulf region.

Source: Philippines News Agency

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