People flocking to a gasoline station in Calape, Bohol to stock up on fuel. (ROMALDO MICO SOLON / Photoville International)
QUEZON CITY, Philippines – A consumer group on Monday, May 28, said that the public has the right to know how oil firms adjust their prices.
Given this, Vic Dimagiba of the “Laban Konsyumer” urged the Department of Energy (DOE) to issue a policy on unbundling or detailing of petroleum prices to give consumers a sense of transparency.
“Kayang magbigay ng ganyang kalaking discount, at kumikita pa sila…at least give us the data. Justified ba o makatwiran ang presyo ng mga petroleum products?” Dimagiba said.
In response, DOE Assistant. Director for Oil Industry Management Bureau Rodela Romero said they are set to issue a circular requiring oil firms and stations to report their computation breakdown on costs of product, refining, import, haulers’ fee and fuel excise tax.
The Energy Department will also ask the oil companies to provide data for unbundling their base price in a mandatory price display board when adjusting prices.
“Kapag nakita natin iyong detalye ng cost malalaman natin kung saan tayo makakagawa pa ng paraan para mapababa ang (presyo) Kasi iyon ngang international cost hindi na natin mako-kontrol. At least iyong within the area baka mayroon tayong maitulong, ang pamahalaan together with the private sector,” Romero said.
DOE eyes finalizing and releasing the circular as soon as possible.
The agency also noted the probable increase in Russia’s and Saudi Arabia’s oil production which will expectedly help in stabilizing fuel prices in the world market.— Mon Jocson | UNTV News & Rescue
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