Oil firms have until Monday, 7 October, to formally respond to the show-cause orders. #oilpricerollback
In view of the apparent difference in the oil price rollback calculations between the Department of Energy (DoE) and oil firms, the agency issued show-cause orders (SCO) to 13 oil companies on Tuesday, 1 October.
Assistant Secretary Leonido J. Pulido III explained in this morning’s economic press briefing in Malacañang that the SCO were issued in line with its mandate to protect consumers’ welfare and ensure fair oil industry practices.
“The SCOs would provide these companies the opportunity to explain how they arrived at their respective oil price rollback calculations. Under the SCO, recipients would have until Monday (7 October) to formally respond to the Department,” said Pulido.
“We continue to assure the public that the DoE will not waver in upholding the welfare of consumers, and will keep everyone properly informed of developments on this matter,” he added.
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Pump prices of Pilipinas Shell Petroleum Corp. and SEAOIL Philippines Inc. rolled back by P1.45 per liter for gasoline, by 60 centavos per liter of diesel and by one pesos per liter of kerosene by P1.00 on Tuesday.
Petro Gazz rolled back pump prices for gasoline and diesel by the same amount while Cleanfuel cut gasoline price by P1.50 per liter and diesel by 50 centavos per liter.
