CEBU CITY – Retailers in Cebu were warned not to take advantage of the raging tension in the Middle East by jacking up the prices of basic commodities.

Gov. Pamela Baricuatro issued the warning, saying that the province has sufficient supply of rice and fuel.

Baricuatro said prices of basic goods in the province will be closely monitored to prevent retailers from exploiting the situation.

“Watch out because we are monitoring, and I’m urging… please do not take advantage of the situation,” Baricuatro said.

The Capitol said it received reports that some sellers in the province have increased prices of rice to P70 per kilogram, way above the prevailing suggested retail price (SRP) of P55 to P58 per kilo.

The increase is unnecessary as supply remains sufficient, Baricuatro said.

“There is no shortage of fuel and rice,” she said.

Province Administrator Aldwin Empaces said a team has been formed to conduct price monitoring in the province.

Through province-wide monitoring, retailers involved in price manipulation will be identified, Empaces said.

Baricuatro reiterated that consumer welfare will be protected and warned that establishments found violating fair pricing rules will face appropriate action.