President Marcos on Tuesday assured Filipinos that food supply and prices remain stable despite rising global oil prices, saying there is no need to hoard as the government keeps the situation under control.

Marcos said this as he led a joint price and supply monitoring activity of the Department of Agriculture (DA) and Department of Trade and Industry (DTI) at Agora Market in San Juan City on Wednesday, March 18.

In an interview, the President said the country is able to “keep everything at normal levels” so far despite the rising oil prices due to the ongoing war in the Middle East.

“Everything is normal. No need to hoard,” he said.

Marcos said the Philippines has a sufficient supply of food and basic goods, including rice.

“Right now, we don't have a problem sa supply with food. We don't have a problem sa supply with petroleum products, including fertilizer for the farmers,” he said.

“Maganda naman ang supply natin ng pagkain, ng bigas, lahat ng mga basic goods (We have a good supply of food, rice, and all basic goods),” he added.

Marcos said the government has been visiting public markets to ensure that food prices do not spike amid the ongoing conflict in the Middle East.

He thanked vendors for cooperating with authorities and keeping prices stable.

“Our vendors are cooperating. They are keeping the prices at normal from what we were maybe a month ago. Pareho pa rin (It’s the same). So that's what we need to maintain,” the President said.

“Nagpapasalamat din kami sa mga vendor… na hindi itataas ang presyo at hindi sila mag-price gouging at hindi sila magsasamantala (We thank the vendors for agreeing not to raise prices, not to engage in price gouging, and not to take advantage),” he added.

Despite this, the President said inspections will continue as uncertainty remains over the duration of the conflict in the Middle East.

“Tuloy-tuloy ang pag-inspeksyon… para naman ang kabuhayan ng ating mga kababayan ay hindi masyadong maapektuhan (Inspections will continue so that the livelihoods of our people are not heavily affected),” he said.

He noted that price caps set by authorities are being followed, while supply is being closely monitored.

However, Presidential Communications Office (PCO) Undersecretary Claire Castro said it is possible for the government to declare a state of emergency if prices of basic goods surge due to rising fuel costs.

“Pwedeng mangyari 'yan… kapag tama na ang sitwasyon (That could happen… when the situation calls for it, especially if there is abuse),” she said in an interview with DZMM on Wednesday, March 18.

She said no price freeze has been ordered so far as the Department of Trade and Industry continues discussions with stakeholders on commodity prices.

Castro noted that while fuel prices are expected to rise due to ongoing tensions in the Middle East, the government is assessing whether increases in basic goods remain justified.

“Titignan natin kung ‘yung pagtaas ba ng presyo ng basic commodities ay dapat (We will determine if the increase in prices of basic commodities is justified),” she said.

She added that proposals for a possible wage hike have not yet been discussed.