Presidential Communications Operations Office



  PIA Bldg, Visayas Ave, Diliman, Quezon City, Philippines
  Saturday, 21 September 2019 News Before 1 Feb 2012. Click for Latest
Web PIA  
 
home
 
about
 
fotos
 
info
 
links
 
ncrr01carr02r03calmimr05r06r07r08r09r10r11r12r13
 << September 2019 >> 
S M T W T F S
1 2 3 4 5 6 7
8 9 10 11 12 13 14
15 16 17 18 19 20 21
22 23 24 25 26 27 28
29 30
Special News Editions:
English.Tagalog.Cebuano
Ilocano.Waray.Hiligaynon
Pangasinan.Other
PIA Specials:
NEW! Cabinet Officials
Jobs.Slides.Specials.Ads. Events.ASEAN.Multimedia
Visitors since 15 Feb 2011:
PIA News Archive:
English.Tagalog.Cebuano
Waray.Hiligaynon.Ilocano
Pangasinan.All
PIA Archive News Reader

PIA Press Release
2009/10/27

DOE to probe higher gas prices in Bacolod

Bacolod City (27 October) -- Investigation in underway on the observed higher gasoline prices in Bacolod City after a resolution authored by Councilor Wilson Gamboa Jr. was submitted to the Department of Energy (DOE) for appropriate action.

In his reply, DOE Undersecretary Roy Kyamco said that since the Republic Act 8479 or the "Downstream Oil Industry Defegulation Act of 1998" was imposed, the prices gasoline and crude oil products were based on supply and demand and the price of crude oil in the international market.

He said the law has liberalized the downstream oil industry that promoted market competition " wherein the prices of petroleum products are governed and influenced by several factors/indicators such as the crude oil in he international market, the foreign exchange rate, spot prices and the interplay of market forces /conditions in a particular trading area."

"It is for this reason that prices may vary across locations as these are dictated by the market," Kyamko added.

He has endorsed the issue to concerned oil companies operating in the area of Bacolod City requesting asking them to submit written explanations on the price situation of oil here.

"Also we have directed our director for the Visayas field Office, Engr. Antonio Labios, to conduct a thorough assessment and evaluation of the price situation in your area," he said.

The gas price issue was spurred when Metro Bacolod Chamber of Commerce and Industry (MBCCI) Vice President for External Affairs Jose Maria Zayco questioned the fuel prices in Bacolod as being higher by P4-P6 per liter when Negros Occ. is close to Batangas where most companies get their fuel supply.

Surprisingly, gas prices in some cities in Mindanao are cheaper compared to Bacolod. (PIA-LOL) [top]

|«  prev  next  »|
DAILY NEWS LIST:
»ASEAN leaders eye intra-regional connectivity
»Reconstruction Commission may borrow from China's $15-B fund
»PGMA, 9 ASEAN leaders cite need for rice reserve
»DPWH Tugbok district completes 2 projects
»LGUs keep KALAHI-CIDDS spirit alive
»Feature: House-building program builds character
»Bureau of Customs XI readies for automation
»Davao Norte to produce rice surplus for Luzon
»IPs to benefit from foreign medical mission
»DA to grant seed subsidies to Davao Norte farmers
|«  prev  next  »|

Philippine Official Gazette | Office of the President | Presidential Communications Operations Office
For comments and feedback, please email PIA Newsdesk
Copyright © 2005 Philippine Information Agency
PIA Building, Visayas Avenue, Diliman, Quezon City 1101 Philippines