Manila: President Ferdinand R. Marcos Jr. has directed relevant agencies to take measures against price gouging on commodities, including oil and other essential goods, in light of the ongoing conflict in the Middle East.

According to Philippines News Agency, during a Palace press briefing on Monday, Presidential Communications Office Undersecretary and Palace Press Officer Claire Castro stated that the government is implementing measures to ensure that private companies or businessmen do not exploit the situation by unjustifiably increasing prices. Castro emphasized that it is not yet the appropriate time for oil price increases, reflecting on the situation in the Middle East.

Claire Castro highlighted a statement by Department of Migrant Workers Secretary Hans Cacdac, who confirmed that the President has instructed various agencies, including the Department of Trade and Industry (DTI), to prevent any form of abuse. Department of Energy Secretary Sharon Garin is expected to engage with oil company representatives in the Philippines to address oil price concerns.

The government is continuing its efforts to provide subsidies across various sectors to alleviate the potential effects of price increases on essential commodities throughout the country.