Oil companies have asked a Manila court to temporarily halt the implementation of a Department of Energy circular that requires them to report to the department all cost items that contribute to increased fuel prices.
Before the oil industry deregulation in 1998, oil companies submitted price increase petitions that were supported with detailed lists of cost items that contributed to the price adjustments sought. Under the DOE circular, which takes effect on June 29, oil companies will be required to “unbundle” or detail everything that contributed to fuel price adjustments.
unbundlegaspricesnow Retweet if you agree.
GREEDY MONKIES!
Only in the Philippines. More players would mean competition but whats happening? They move as one: same price and timing of increases and reductions. And DOE is just seating on this? And now this move to stop unbundling?