Hoarders and profiteers taking advantage of the expected oil supply disruption caused by the conflict in the Middle East will face consequences, Malacañang warned.

The government would pursue and file charges against those found engaging in such practices, Palace Press Officer and Communications Undersecretary Claire Castro said.

“Alam naman po natin na may batas sa mga aksyon ng hoarding at profiteering, na inaabuso ang ganitong klaseng sitwasyon na hindi naman kinakailangan na sila ay magtago o lumaki po ang kanilang kita o tubo dahil hindi pa ito napapanahon (Of course, we know that there are laws against hoarding and profiteering, which involve taking advantage of situations like this. There is no need for anyone to hoard goods or increase their profits or gains because the situation does not yet warrant i,” Castro said in a media briefing on Monday, March 9 (New York time).

“So, kapag kayo ay nahuli na lumalabag sa batas, nahuli na nag-hoard or umaksyon o gumawa ng profiteering, hindi kayo tatantanan ng ating pamahalaan dahil kayo po mismo ay madedemanda at kakasuhan (So if you are caught violating the law, caught hoarding or engaging in profiteering, the government will not let you off easily because you will face complaints and legal charges,” Castro said.

Castro also reiterated an earlier warning against businesses that may engage in profiteering amid the ongoing conflict in the Middle East, after receiving information that the Department of Energy has issued show-cause orders against 54 gasoline stations for allegedly raising prices prematurely.

The Palace official echoed President Marcos' appeal for everyone to unite and help each other amid the crisis.

She said the President stressed that Filipinos should stand together, help one another, and cooperate.

"Kapag kayo ay nagsamantala, mayroon po kayong kalalagyan. Kayo po ay madedemanda at maaaring matanggalan po kayo ng pagkakataon na kayo ay makapagnegosyo (But if you take advantage of the situation, there will be consequences. You may face legal charges and could lose the opportunity to continue operating your business)," Castro warned.

The Palace official has assured the public that the Philippines maintains adequate supplies of fuel and essential goods despite rising oil prices.

“Sa ngayon, tulad ng aking sinabi kahapon sa DTI, wala naman daw movement ng price sa mga basic commodities natin sa NCR (National Capital Region) at sa ibang mga region (For now, like what the DTI said yesterday, there is no movement on prices of basic commodities in the NCR and other regions),” Castro said.

The Palace mouthpiece added that any unusual increases in the prices of essential goods and petroleum products should be promptly reported to the appropriate regulatory agencies, including the Department of Trade and Industry (DTI) and the Department of Energy (DOE).

On Tuesday morning, oil companies began implementing a three-day staggered price increase in fuel products.

Castro said the government is working to help mitigate the effects of the conflict in the Middle East. However, she added, consumers do not need to engage in panic buying.

“Hindi man ito nagaganap at hindi ito ang kagustuhan ng ating gobyerno pero dahil sa tension na nagpapatuloy sa Middle East, kailangan talagang paghandaan ng mga kababayan natin (Even if this is not happening and it is not the government’s intention, due to the ongoing tensions in the Middle East, our fellow Filipinos still need to prepare)," Castro said.

"Pero hindi kailangan magkaroon ng panic buying dahil kumpleto naman at enough pa ang supply, lalong-lalo na ang ating fuel at ng ating mga basic commodities (However, there is no need for panic buying, as supplies, especially fuel and basic commodities, are sufficient and adequate),” Castro added.