Manila: President Ferdinand R. Marcos Jr. on Friday assured the public that the government would facilitate the immediate release of cash assistance to sectors affected by the spike in oil prices triggered by the ongoing crisis in the Middle East. In a video message, Marcos said national and local governments will work together to ensure that assistance quickly reaches those who need it.

According to Philippines News Agency, Marcos also warned against hoarding and profiteering to manipulate the prices of basic commodities, stressing that such acts are against the law. He stated that the government continues to monitor the prices of goods in the markets to ensure that no one takes advantage of the situation and appealed to business owners and traders not to exploit it.

Marcos acknowledged the uncertainty brought by the conflict in the Middle East and its impact on global oil supply. He expressed confidence that the country would overcome the situation, citing Filipinos' resilience and emphasizing that the country has endured similar challenges before.

The President addressed the nation, highlighting that while the conflict in the Middle East is beyond control, the protection of the Filipino people is within reach. He reminded citizens that this is not the worst oil price hike the country has faced, and emphasized the importance of unity, faith, and communal care in overcoming such trials.