By CESAR JOLITO III
The Bacolod City council has passed a resolution calling on the Department of Energy (DOE) and the Department of Trade and Industry (DTI) to take strict action against hoarding and price manipulation of petroleum products amid the economic impact of the ongoing conflict in the Middle East.
Authored by Councilor Wilson Gamboa Jr., chair of the council’s Committee on Human Rights, the resolution emphasizes the need for close coordination with the Philippine National Police to monitor and enforce regulations.
“The government must strike a balance between protecting the interests of the business sector and safeguarding the welfare of consumers during this period of global instability,” Gamboa said.
The resolution references Republic Act 7581, which empowers the government to stabilize prices of basic necessities and prime commodities during emergencies or unjustified price surges due to high fuel prices that likely disrupt global supply chains and drive local price surges.
Items under price control include rice, corn, bread, fish, meat, eggs, milk, vegetables, cooking oil, salt, sugar, laundry soap, medicines, fertilizers, and petroleum products.
Gamboa stressed the importance of proactive monitoring to prevent artificial shortages and unjustified price hikes.
He urged national agencies to coordinate closely, ensuring that traders and suppliers do not exploit geopolitical tensions for profit at the expense of consumers.
“Vigilance is urgent to protect the public from artificial and distorted price hikes, particularly when global developments can quickly affect local fuel prices and the cost of basic goods,” Gamboa added.
Earlier, the city government intensified the monitoring and inspection of local gas stations to safeguard residents from unfair pricing as fuel markets are strained by Middle East tensions.
The initiative ensures that any adjustments in local fuel costs align strictly with national standards and allowable limits set by DOE.
Fuel retailers in Bacolod are urged to strictly comply with oil price regulations as global market pressures continue to affect fuel costs.
City Administrator Atty. Mark Mayo urged business owners to conduct their operations fairly and responsibly, particularly during this challenging period influenced by the ongoing conflict in the Middle East.
“We are appealing to business owners to be just and fair in conducting their operations. All activities must remain within the bounds of the law,” Mayo said.
He added that the city will submit monitoring reports to DOE, which has the authority to impose sanctions on establishments found violating price regulations.
Meanwhile, DTI reported that prices of leading commodities in markets across Negros Occidental remain stable despite recent increases in global fuel prices.
DTI has not monitored any significant price adjustments in essential goods, noting that supply levels in local markets continue to be sufficient.
However, the agency acknowledged that the continued rise in petroleum prices could eventually affect the cost of basic commodities if transport and logistics expenses increase./CJ, WDJ