DOE: No fuel increase for CDO, Iligan

Department of Energy reiterated that prize freeze remains in effect for gasoline and other petroleum products here in Cagayan de Oro and Iligan City until the national state of calamity is lifted.

DOE Undersecretary Atty. Jose M. Layug, Jr. confirmed the commitment of the three leading industry players in the country, to follow the directive issued by DOE for price freeze on the said cities. Layug reminded retailers not to make any movement on their prices, following the reported Php 2 to 3 increases in liquefied petroleum gas here in the city.

"Ibigay ninyo ang mga pangalan, kami po ang maninita," he said. (Give us the names of these retailers, we will call their attention)

He noted that on regular days however, adjustments on gas prices is observe on a Monday schedule, except, in cases of rollback where they would ask for price adjustment as early as Saturday. The Undersecretary called on the cooperation of the public to report increases in oil prices outside its Monday schedule.

"We are following a formula to arrive on the existing price adjustments and the oil deregulation on the other hand does not dictate the prevailing oil price," he added.

He explained further that difference in price from one place to another is heavily dependent also on transportation cost, presence of small players and price matching.

In his visit, here, in the city recently to meet with the different downstream oil industry stakeholders, composed of the local executives, Department of Trade and Industry and the transport groups, he promised to have another meeting with them early this year and discuss extensively how they computed the weekly price adjustments. -PIA — ARA