Senator ‘Win’ Gatchalian. (Photo from the Philippine News Agency) 

Senate Urges Vigilance on Food and Oil Prices Amid Middle East Tensions

By Tracy Cabrera 

SENATE, Pasay City — Senator Sherwin ‘Win’ Gatchalian has urged the Department of Trade and Industry (DTI) and the Department of Agriculture (DA) to closely monitor the supply and retail prices of essential goods, as rising tensions between the United States and Iran threaten to further drive up costs.

In a statement, Gatchalian, chairman of the Senate Committee on Finance, emphasized the need for proactive measures to mitigate potential long-term effects of the Middle East crisis on domestic prices, especially in light of the country’s recent inflation trends.

“Given expectations of higher oil prices, both agencies should be ready to prevent unwarranted price surges and profiteering, ensuring the welfare of ordinary consumers,” he said. In Filipino, he added, “Pataas na nga nang pataas ang presyo ng produktong petrolyo, huwag nating hayaang madagdagan pa ang pasanin ng ating mga kababayan.”

Data from the Philippine Statistics Authority (PSA) show that consumer prices for basic goods rose 2.4 percent in February, up from 2.0 percent in January and 2.1 percent in February last year. This marks the fastest 13-month increase since inflation hit 2.9 percent in January 2025.

Food inflation specifically climbed 1.6 percent last month, faster than January’s 0.7 percent but still below February 2025’s 2.6 percent, contributing 24.2 percent to the overall inflation rate, Gatchalian noted.

Prices of rice jumped 3.4 percent in February, while year-on-year increases were also observed for corn, flour, fish and seafood, dairy products, fruits, nuts, and vegetables.

Gatchalian called for coordinated government action to ensure that Filipinos are shielded from unnecessary price spikes during this period of international uncertainty.

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