Manila, Philippines – The Department of Energy (DOE) coordinated with the Department of the Interior and Local Government (DILG) and the Philippine National Police (PNP) to ensure swift action against any violators of hoarding and profiteering in the sale of petroleum products.
This follows reports of irregularities in supply and retail practices in some areas of the country due to the conflict in the Middle East.
According to DOE Secretary Sharon Garin, the government will not overlook any attempt to take advantage of the current situation.
This is also in accordance with the order of President Ferdinand Marcos Jr. for the DOE to further strengthen measures to protect consumers and ensure a proper and sufficient supply of fuel.
This is part of the government’s intensified coordination to prevent any manipulation of the price and supply of petroleum products.
Under the Republic Act (RA) No. 7581, of the Price Act and Presidential Decree No. 1865 hoarding, overpricing, adulteration, and other forms of manipulation of the price and supply of petroleum products are considered illegal; those found to be in violation may be subject to fines and imprisonment.—Grachella Corazon, Eurotv News