DOE Monitoring Oil Prices in Mindanao
Davao City (18 April) -- DOE Senior Science Research Specialist Ms. Delia Sy, in an interview last April 16, said that they are conducting inspection and investigation to every gasoline station here in Mindanao to assure that the oil price is fair to the public and that the gasoline stations will not take advantage to its price.
They are given by the government the power and prerogative to monitor the prices of oil commodities to ensure reasonable pricing on the basis of prevailing inventory and market price by oil companies and dealers.
As of April 07 up to April 14 Mindanao's current oil price situation is not in its stability particularly Davao City according to the monitoring schedule of the DOE Region XI. Ms. Delia Sy added that oil price will always be unstable because oil companies are depending the pricing of oil in International Price Market and Foreign Exchange.
Last April 15, Executive Secretary Eduardo Ermita explained to the Malacañang press reporters as regards to the notion which the Government can do nothing concerning the nonstop oil price increase and so with the DOE Secretary Reyes. Ms. Delia Sy, in reaction to the notion, said that they are not in the position to utter any word regarding to it. (PIA XI)
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