Palace monitoring fuel price hikes

ABS-CBN News

Posted at Aug 23 2012 07:44 PM | Updated as of Aug 24 2012 04:17 PM

MANILA, Philippines - Malacañang said it is monitoring fuel price increases amid the new round of adjustments on Thursday morning.

“Binabantayan ‘yan ng [Department of Energy]. Titingnan nila kasi kung sumusobra, they call the attention of the oil companies. But again in a deregulated environment, sanay tayong tataas, bababa, tataas according to several factors na walang control ang pamahalaan,” deputy presidential spokesperson Abigail Valte said.

She said the Department of Trade and Industry (DTI) is also monitoring the situation, since many are still reeling from the impact of heavy rains and floods two weeks ago.

“Ang DTI kasi kini-compute kapag may tumaas sa isang lugar, kung ano ’yung nagiging kaukulang epekto doon sa presyo ng mga bilihin. That being said, we do release the price monitoring watch every Friday,” she said.

“We can use it as our guide kung sa inyong paniniwala ay merong mga masyadong mataas o mga pang-aabuso, ipaalam natin agad sa DTI,” she added.