Prices of basic goods in Cebu under close monitoring amid tensions in Middle East

Local

CEBU Gov. Pamela Baricuatro warned retailers against taking advantage of global tensions to justify higher prices on rice and other basic goods, as she assured Cebuanos that supply in the province remains stable.

“Watch out because we are monitoring, and I’m urging… please do not take advantage of the situation,” Baricuatro said during a briefing on Wednesday, March 4.

She stressed that Cebu has sufficient stocks of fuel and rice despite the escalating conflict in the Middle East.

“There is no shortage of fuel and rice,” she said.

The prevailing suggested retail price (SRP) for rice currently ranges from P55 to P58 per kilogram.

However, the Capitol received reports that some sellers in undisclosed areas have increased prices to as much as P70 per kilogram.

Assistant Provincial Administrator Aldwin Empaces said the reported P70 per kilogram selling price is already beyond the suggested retail price.

He said their team has been conducting price-monitoring rounds across the province and will prepare a report identifying retailers involved in price manipulation and abuse.

Baricuatro reiterated that consumer welfare remains a top priority and warned that establishments found violating fair pricing rules may face appropriate action.

She said there are retailers who are taking advantage of the situation and stressed that the provincial government is monitoring them, urging them not to exploit the crisis.

Earlier, the governor issued Executive Order No. 15 directing all Capitol departments to conserve fuel and prepare contingency measures as global oil prices are expected to rise.

Empaces said Cebu remains “safe” in terms of oil supply for the next one to two months, as the province maintains advance oil stocks.

“Based on the current development, the supply is so far okay,” Empaces said.

He acknowledged that higher oil prices are inevitable.

“Ang clear lang jud is mosaka ang oil prices pero naa nay intervention ang DND (Department on National Defense),” he said.

Empaces warned that the impact of rising oil prices may be felt more strongly by the third month if tensions persist, although no price freeze has been imposed as the market remains stable.

The Capitol has also coordinated with national agencies in case repatriation of Cebuanos becomes necessary.

“So far, we haven’t received any requests for repatriation. But that (possible repatriation) was part of what we discussed with OWWA (Overseas Workers and Welfare Administration),” Baricuatro said.

She assured the public that the provincial government continues to validate reports of sudden price increases and will act against profiteering while implementing measures to cushion Cebu from possible economic fallout.(MyTVCebu)