Steven Cua, president of the Philippine Amalgamated Supermarkets Association Inc., urged the public to avoid panic buying, saying excessive purchasing could also drive prices up and quickly deplete supermarket stocks.
“So let’s not rush into panic buying. When we do that, we help raise the price. Let’s just relax,” Cua said in an interview yesterday with GMA Integrated News’ Unang Balita.
“If you want to buy, maybe buy 15% more than what you normally do. You want to be on the safe side, but don’t buy more. Twenty percent or up to 50%—don’t buy that much because it’s not necessary. That way we give production people time to come up with more stocks,” he added.
Cua said that when the price of crude oil moves in any country that relies on imports like the Philippines, the price of other goods will also increase.
“When the price of crude oil moves in any country, and you import the way we do, the price of everything else will move. Labor, electricity, and fuel—when those move, all the prices will move, for sure,” he said.
Despite the concerns, Cua noted that there has been no official notice yet from manufacturers about price increases.
He said consumers may not feel the immediate impact yet because retailers and suppliers still have existing stocks purchased before the recent tensions in the Middle East.
According to Cua, the Philippines currently has around 50 days’ worth of fuel supply.
Cua also warned that rushing to buy fuel or stockpile goods could affect supply chains, as new shipments of fuel and other products take time to arrive.
Cua added that some provinces may experience supply disruptions sooner than Metro Manila because delivery trucks are affected by fuel limitations and the shorter operating hours of some gas stations.
“The problem in the provinces is delivery and distribution. Gasoline is being limited by some gas stations, so trucks cannot deliver. Others are closing early,” he said.
“Because of that, distribution is disrupted, so some provinces may run out of certain stocks earlier,” he added.
According to Cua, he has received reports that some retailers have started limiting the number of items on display in their stores to prevent hoarding.
Cua’s supermarkets group is set to meet with the Department of Trade and Industry’s (DTI) National Price Coordinating Council to discuss the situation and possible measures to maintain stable supply and prices.
The DTI has said that prices of basic goods are expected to increase not because of the products themselves but due to logistical factors such as distribution and freight costs.
Earlier, Benedict Uy, executive director of the Department of Trade and Industry-led ASEAN Committee on Business and Investment Promotion (CBIP), said the agency is actively monitoring the impact of fuel and energy costs on businesses nationwide, with the possibility of coordinated regional action to mitigate price shocks across the bloc.
“From our leadership down to the ground level, we are monitoring prices and engaging companies to understand and address the impact. The Department of Energy handles pricing, but DTI ensures that businesses are equipped to navigate these challenges,” he said.
“Even as we cannot directly control global fuel prices, monitoring their impact locally allows us to advise and support businesses, ensuring they can continue operating efficiently and competitively,” he said.
