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Marc Jayson Cayabyab - The Philippine Star
April 5, 2026 | 12:00am
MANILA, Philippines — Senate President Pro Tempore Panfilo Lacson has commended Department of Foreign Affairs (DFA) Secretary Ma. Theresa Lazaro for her “quiet diplomacy” in securing the safe passage of Philippine-flagged vessels, energy shipments and Filipino seafarers through the Strait of Hormuz.
“Our commendation and gratitude to DFA Secretary Maria Theresa Lazaro for quietly and efficiently negotiating with Iran to allow passage of vessels through the Strait of Hormuz that deliver 80 percent to 100 percent of the Philippines’ oil imports,” Lacson tweeted on X on Friday.
Lacson earlier urged Filipinos to pray that the country and the world survive the “whimsical arrogance” of US President Donald Trump, whom he blamed for triggering the Middle East conflict that caused the soaring oil prices and the technical blockade in the Strait of Hormuz.
Similarly, Senate deputy majority leader JV Ejercito called the deal a “very welcome development.”
“This will greatly help replenish our petroleum reserves. We recognize the efforts of President Marcos and the Department of Foreign Affairs in opening diplomatic channels on this matter,” he said in a statement.
“We are hopeful it will materialize and will be sustained,” he added.
Meanwhile, Sen. Francis Pangilinan issued a stern warning to traders and retailers yesterday, saying those caught artificially inflating prices or hoarding basic goods will face criminal charges and jail time.
With the nation observing Holy Week, the senator emphasized that the crisis should not be treated as a business opportunity to exploit struggling households.
“If you sell basic goods at grossly excessive prices, the law is very clear, that is profiteering and you can go to jail for it,” he said.
Pangilinan condemned the opportunistic practices as “plainly illegal and immoral,” reminding traders that the Price Act (Republic Act 7581, as amended by RA 10623) strictly prohibits the price manipulation of basic necessities and prime commodities.
Under Philippine law, profiteering occurs when goods are sold at a price grossly in excess of their true worth, while hoarding involves deliberately withholding stock to artificially restrict supply and trigger a price hike.
Pangilinan, who chairs the Senate committee on agriculture, food and agrarian reform, stressed that these are not minor infractions.
“These are criminal offenses. Profiteering and hoarding can mean imprisonment of several years and hefty fines, on top of closure of your business and cancellation of permits,” he warned.
“This not a simple slap on the wrist. If you will jack up the prices, don’t expect that this will go unpunished,” he added.
While noting that the Department of Trade and Industry (DTI) and the Department of Agriculture (DA) are already monitoring supermarkets and wet markets, the senator demanded immediate legal action against violators.
“Our economic managers and enforcement teams are watching the markets closely. DTI is keeping an eye on supermarkets and groceries, while DA is monitoring prices of rice, vegetables, meat, fish and other agricultural products in wet markets,” he said.
“I expect DA and DTI not just to monitor, but to act. If there is a stronger evidence of profiteering and hoarding, they (violators) should immediately be charged,” Pangilinan added.— Neil Jayson Servallos
