Even as President Ferdinand “Bongbong” Marcos Jr. urges calm over spiraling oil prices triggered by the Middle East crisis, Filipinos are feeling the strain of a global shockwave that threatens household budgets and small businesses alike.
At a public market visit in San Juan City on Wednesday, Marcos framed the situation as “normal” and discouraged panic buying — but behind the hand‑shake optics, economic pressures are already creeping into the daily lives of ordinary Filipinos.
“Everything is normal. No need to hoard,” Marcos said, highlighting adequate supplies of rice, food staples, and fertilizers.
Marcos said that sellers follow the price cap imposed by the Department of Trade and Industry (DTI).
''At sa nakikita naman natin ay sinusundan naman ang mga price cap na nilalagay ng DTI. At nakakatiyak naman sa Department of Agriculture na ang supply ay sapat. Kaya't hindi kailangan mag-hoarding, ating mga vendor, hindi kailangan – huwag niyo naman samantalahin. At mukha namang hindi nila ginagawa,'' he said.
Yet markets across Metro Manila have reported noticeable upward price adjustments in recent days, as fuel retailers raise pump prices in line with global crude costs. .
Agriculture Secretary Francisco Tiu Laurel Jr. acknowledged this gap, conceding that price increases may still occur in coming weeks despite government messaging that supply chains remain unbroken.
''If I want to be practical and honest, yes we should expect na tataas but not all,'' Tiu Laurel said.
Economists warn that even marginal changes in fuel prices ripple through inflation figures, affecting transportation fares, food costs, and production inputs.