DAVAO CITY (MindaNews / 8 April) — While there are no signs of panic buying, consumers have been reminded to purchase only what they need to avoid potential supply issues in basic commodities amid the global oil crisis, an official of the Department of Trade and Industry (DTI)-Davao said.
Romeo N. Vasquez Jr., chief of the Consumer Protection Division of DTI-Davao, said in an interview at the sidelines of Kapehan sa Dabaw at SM City on Monday that large manufacturers have assured an ample supply of goods for at least the next two to three months despite the rising cost of fuel that could affect the cost of production.
“If we resort to panic buying, we end up purchasing more than what we actually need, which will affect the supply available to other customers. Definitely, there will be a problem if we buy more than what is necessary. We encourage consumers to purchase only the supplies they need. There is really no need for panic buying, as manufacturers have assured ample supply,” he said.
Vasquez reminded consumers to remain vigilant against sudden price increases and to report immediately any establishments that may be taking advantage of the crisis.
The conflict between the United States and Israel on one side and Iran on the other has triggered an oil supply problem affecting several countries in the world, including the Philippines.
He said based on their weekly monitoring, establishments implemented minimal price increases on commodities, with increments remaining within 10% limit of the suggested retail price.
“If the increase goes beyond 10 percent, report it immediately to the nearest DTI office. That could serve as prima facie evidence of profiteering, and we can issue them a show cause order,” he said.
Retail establishments imposing excessive price increases could face sanctions for violating Republic Act 7581, also known as the “Price Act.” The law penalizes violations of the SRP with fines ranging from ₱5,000 to ₱2 million, imprisonment of 5 to 15 years, and cancellation of business permits, according to Vasquez.
Buscarin Nicolas, a tricycle driver in the city’s central business district in Barangay 34-D, said the oil crisis is taking a toll on his livelihood.
“Dako kaayo og epekto. Mahal na kaayo ang palaliton, ang bugas, tanan tanan na mahal. Pait na gyud. Sobra kalisod ang panahon,” he said. (It has a huge impact. Prices of goods, rice, and almost everything have become very expensive. Times are really hard. Life is extremely difficult now.)
He said his daily income, averaging ₱500 to ₱600, is barely enough to buy rice, provide allowance for his children, and pay utility bills.
Second District Councilor Louie John Bonguyan, chairperson of the Committee on Energy and Water, said the city government of Davao created the Interagency Task Force on Emergency Socioeconomic Crisis Response (IATF-CRISIS) to consolidate the efforts of local and national government agencies to monitor the prices of fuel and basic commodities in the city.
He said their monitoring ensures that price increases remain within the prescribed limits, while also helping prevent hoarding and profiteering, since the energy crisis could have a snowballing effect on the cost of necessities.
The IATF-CRISIS issued resolutions on Tuesday, urging all offices of the City Government of Davao to reduce their fuel consumption by 15%, with exemptions granted to priority offices, including those in the emergency and health sectors.
It also directed the Business Bureau to implement a policy temporarily denying all requests for motorcades within the city for the duration of the ongoing fuel crisis.
It also adopted the recommendations of the City Planning and Development Office on energy efficiency and conservation measures for offices of the local government of Davao.
The task force, created through Executive Order 7 issued on March 31, is composed of the city mayor as chairperson, the city planning and development coordinator as vice chairperson, and the vice mayor, the city administrator, along with the heads of the city information office, city legal office, city engineer’s office, city accountant’s office, city budget office, and the Department of the Interior and Local Government–Davao City Operations Office as members. (Antonio L. Colina IV / MindaNews)
