Deadline all the time

breaking news stories, photos, and video

LPG dealers called over small rollback

leave a comment »

By Joel Guinto
INQUIRER.net
First Posted 11:05:00 11/06/2008

SUBIC BAY FREEPORT, Zambales — The Department of Energy (DoE) will summon liquefied petroleum gas (LPG) dealers on Friday to explain why they have not brought prices down enough to reflect the big drop worldwide, Energy Secretary Angelo Reyes said.

Reyes said the 39-percent decrease in the contract price of cooking gas should translate to a P15 to P17 per kilogram rollback, but local prices were reduced by only P4 per kilogram.

“Tomorrow [Friday], we will summon the players in the LPG industry to explain if their prices reflect the international LPG contract price,” Reyes told reporters at the inauguration of a Petron Corp. Fuel additives plant here on Thursday.

“The drop in world prices is very big, we want to make sure that there are no unreasonable profits,” Reyes said.

Asked if profiteering charges could be filed if the LPG players would fail to justify their prices, Reyes said: “We are naman [also] empowered by law to do this. We’re empowered by law to get additional information on pricing. We will do that.”

President Gloria Macapagal-Arroyo was the guest of honor at the opening of the Petron facility.

View article as posted on INQUIRER.net

Advertisements

Written by joelguinto

ThuUTC2008-11-06T07:57:30+00:00UTC11bUTCThu, 06 Nov 2008 07:57:30 +0000 22, 2006 at 12:45 am11

Posted in Uncategorized

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: