Maintain SRP for candles, DTI warns sellers
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The Department of Trade and Industry said there should be no incremental price adjustments for candles, as the country prepares for the commemoration of All Saints and All Souls' Days.
In an advisory, the DTI said the suggested retail price of candles released by the department last August 2022 should be adhered to, otherwise, sellers caught marking up the SRP would be liable for violating Republic Act 7581 or the Price Act.
"In line with the upcoming celebration of All Saint's Day and All Soul's Day, please be informed that DTI currently has an existing SRP for candles based on the August 2022 SRP. However, for flowers, DTI will not issue SRP because it's not considered BNPC (basic necessities and prime commodities)," the DTI said in its statement Monday.
The BNPC include, but are not limited to, canned and other food products, bottled water, dairy, and common household or kitchen supplies such as candles.
Based on the August SRP bulletin, which is deemed enforceable and effective until DTI issues a new one, the regular Liwanag Esperma Candle White (20 pcs per pack) is priced at P65.78, while the bigger pack is priced at P85.05.
Any act of illegal price manipulation of any basic necessity or prime commodity under the Price Act has a penalty of imprisonment of not less than five years but not more than 15 years. It also comes with a fine of not less than P5,000 but not more than P2 million.
