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Cagayan de Oro

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Local trader warns of fuel hoarding, urges early rationing in Oro
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Local trader warns of fuel hoarding, urges early rationing in Oro

CAGAYAN DE ORO — Veteran businessman George Goking is calling for immediate fuel rationing and price monitoring in the city to prevent hoarding and economic instability as Middle East tensions escalate. Drawing parallels to the logistics management of the COVID-19 pandemic, Goking warned that local businesses might exploit the crisis by raising prices on old stocks. While President Ferdinand Marcos Jr. recently assured the public of a 50-to-60-day national fuel stockpile—including 50.5 days of diesel and 51.5 days of gasoline—Goking insists the city should "play it safe" by planning for a 30-day window. Under DOE Circular No. DC2003-01-001, refiners must maintain a 30-day supply, but Goking urges City Hall to be proactive rather than relying on national estimates to protect the local economy from panic buying.

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