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AS MIDEAST TENSION THREATENS GLOBAL OIL SUPPLY
malaya Business Insight
|March 03, 2026
Marcos orders stable oil, consumer goods supply
PRESIDENT Ferdinand Marcos Jr. has instructed government agencies to prevent price gouging and ensure stable supply of fuel and basic commodities as the Middle East conflict escalates, Malacafiang said on Monday.
Palace Press Officer Claire Castro said the Department of Trade and Industry (DTI) is monitoring the prices of basic goods to prevent profiteering, while the Department of Energy (DOE) has called an emergency meeting with oil companies to ensure stable supply and prices.
“The president has already instructed various agencies to prevent abuses, especially the DTI,” Castro said when asked if measures were in place to avert sudden price increases.
Castro said Energy Secretary Sharon Garin met with oil firms on Monday to assess the conflict’s impact on local prices and supply and to ensure stability.
This story is from the March 03, 2026 edition of malaya Business Insight.
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