NEW YORK — Malacañang on Monday warned fuel hoarders and businesses that take advantage of the ongoing fuel crisis that they will face legal action if they engage in profiteering or raise prices of basic necessities and prime commodities without justification.

Speaking during a briefing at the Hilton Garden Inn here, Palace press officer and Presidential Communications Office Undersecretary Claire Castro urged the public not to panic buy, saying the country’s supply of fuel and essential goods remains sufficient.

“There are laws when it comes to profiteering and hoarding, or to those who are taking advantage of the situation. It is not right to hoard to increase their profits. It’s very untimely. So, kapagka po kayo ay nahuli na lumalabag sa batas, nahuli na nag-hoard or gumawa ng profiteering, hindi po kayo tatantanan ng ating pamahalaan dahil kayo po mismo ay madedemanda at kakasuhan,” Castro said.

The Department of Energy said Monday (Manila time) that oil retailers are set to increase prices this week, with gasoline expected to rise by P7.00 to P13.00 per liter, diesel by P17.50 to P24.25, and kerosene by P32.00 to P38.50.

The increases are scheduled to be implemented from 10 March to 16 March.

Castro said Energy Secretary Sharon Garin assured the public that oil companies would implement the adjustments on a staggered basis to ease the burden on motorists and consumers.

“Pero pinangako rin po ni Secretary Garin na staggered basis po ang gagawin ng mga oil companies sa kanilang na pag-usapan. So, mahirap po talagang mag-speculate kung anong dapat gawin ng ating mga kababayan dahil sa nangyayari po ngayon. Pero ang nais lamang po ng pamahalaan ay talaga pong ihanda lang kung anong mangyayari sa atin dahil hindi po natin maiiwasan ito,” she said.

Castro added that the government cannot be blamed for the situation, noting that the price volatility stems from tensions in the Middle East involving Iran and US-backed Israel.

“Hindi man po ito nagaganap at hindi ito ang kagustuhan ng ating gobyerno pero dahil sa tension na nagpapatuloy sa Middle East, kailangan po talagang paghandaan ng mga kababayan natin. Pero hindi po kailangan magkaroon ng panic buying dahil kumpleto naman po at enough pa po ang supply, lalo-lalo na ang ating fuel at ng ating mga basic commodities,” she said.

The Department of Trade and Industry has also assured Malacañang that there have been no price movements so far in basic necessities and prime commodities.

However, in Tondo, Manila, some residents have started scrambling to secure liquefied petroleum gas (LPG) tanks amid reports of limited supply.

Chanda Licuanan, a resident of Barangay 95 in Pritil, said she was unable to buy LPG from her usual supplier on Monday, prompting her to purchase an induction cooker to prepare meals for her sick husband.

Emergency powers

Castro also said the Office of the President is coordinating with the Department of Energy, the Office of the Executive Secretary, and the Department of Finance to expedite the drafting of legislation that would grant the President emergency powers.

Earlier on Monday, House Speaker Faustino “Bojie” Dy III and House Majority Leader Ferdinand Alexander “Sandro” Marcos filed House Bill No. 8292 seeking to amend Section 148 of the National Internal Revenue Code.

The proposal would allow the President to suspend the collection of excise taxes on fuel during emergencies. Current excise taxes are set at P6 per liter for diesel and P10 per liter for gasoline.

“Ayon po sa OES, nagtulungan po ang opisina po ng DOF, OES, at ang Office of the President para po mabigyan agad ng oras ang pagsasagawa ng batas patungkol po dito. At kapag natapos na po at nagkaroon na po ng committee report, ay magkakaroon po ng certification of urgency na siyang ang Pangulo po mismo ang pipirma,” Castro said.

She added that President Ferdinand Marcos Jr. considers the House proposal urgent and views it as a potential response to the ongoing fuel crisis.