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Jean Mangaluz - Philstar.com
March 18, 2026 | 12:00pm
President Ferdinand Marcos Jr. inspects a wet market in San Juan City on March 18, 2026.
Presidential Communications Office / Release
MANILA, Philippines — As high fuel prices threaten to drive up inflation, President Ferdinand Marcos Jr. on Wednesday, March 18, assured the public that there is no need to hoard food supplies.
Marcos personally visited a San Juan wet market to monitor prices alongside the Department of Agriculture and Department of Trade and Industry.
In a statement to the media, Marcos said that they wanted to make sure that prices do not surge, so inspections and monitoring will continue.
“Ang supply natin, maganda naman ang supply natin ng pagkain, ng bigas, lahat ng mga basic goods. Kaya ‘yung ating mga kababayan sinasabi natin, hindi naman kailangan mag-hoarding at hindi tayo nagkukulang sa food supply,” Marcos said.
(Our supplies, our supply of food is good, of rice, of all the basic goods. That is why to our citizens, we say, there is no need to hoard and we will not run short of food supplies.)
Marcos cautioned vendors against taking advantage of the crisis in the Middle East and to maintain the prices set by the government.
“Everything is normal and we'll just keep working to make sure that it stays that way,” Marcos said.
Meanwhile, both chambers of Congress have already approved a bill granting Marcos emergency powers to suspend the excise tax on fuel.
“Despite Marcos certifying the measure as urgent, he did not say when he will use those powers. We will see. Depends on the trends. We have to watch the trends on oil prices. We just have to look. It's very hard to say because it's all speculation. We don't know how long this will last for,” Marcos said.
Oil products have hit a record high as the war between Israel and Iran continues. While the government has begun distribution of fuel subsidies, many fear the prolonged effects of high gas prices, including higher living costs.
