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Competition watchdog monitors oil retailers amid price hike

May 15, 2018 5:03 AM
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MANILA – A collusion among oil retailers could prompt the Philippine Competition Commission (PCC) to investigate industry players to ensure that oil prices remain competitive, an official said Tuesday.

Speaking to DZMM, PCC Commissioner Johannes Bernabe said the competition watchdog is not mandated to meddle in oil pricing but could investigate unfair practices resulting in surges in rates.

Starting Tuesday, May 15, the prices of gasoline and diesel products will increase by P1.10 and P1.20 respectively.

“Ang binabantayan po ng PCC ay kung nagkakaroon ng kasunduan o nagkakaroon ng sinasabing abuso sa pagiging dominante sa merkado itong mga nangangalakal sa langis sa ating oil industry,” Bernabe said.

(What the PCC monitors is if there is a collusion or abuse among oil industry players to dominate the market.)

“Hindi puwedeng maikling period lang ang ating titingnan so medyo masalimuot na trabaho po ito,” he said.

Source: news.abs-cbn.com

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