In the face of rising petroleum prices exacerbated by the Russia-Ukraine conflict, the Department of Trade and Industry (DTI) is hesitant to implement a price freeze on essential commodities.
DTI Assistant Secretary Ann Cabochan stated Republic Act No. 7581, or the Price Act, has mechanisms in place for requiring a price freeze during Thursday’s Laging Handa briefing.
“[K]unwari kung may declaration ng state of emergency. As of this time and sinabi na ‘to ni [Trade] Secretary [Mon] Lopez, na hindi pa natin nakikita yung circumstances that will give rise to a declaration of state of emergency,” Cabochan said.
(For example, there is a proclamation of state of emergency; however, as Trade Secretary Ramon Lopez pointed out, we haven’t seen any circumstances that would lead to a declaration of a state of emergency at this time.)
Prices of essential needs in a certain area are immediately frozen at their current levels or placed under automatic price control under Section 6 of the RA 7581 in the following circumstances:
- The site is proclaimed or declared a disaster area or under a state of calamity
- An emergency has been declared in the area.
- In that territory, the writ of habeas corpus has been suspended.
- Martial law has been imposed in that area.
- That area has been declared a rebellious zone.
- In that territory, a state of war has been declared.
Price freeze unlikely – DTI
Canned sardines in tomato sauce, luncheon meat, meatloaf, beef loaf, corned beef, processed milk, coffee, bread, locally manufactured instant noodles, salt, detergent soap/laundry soap, toilet soap, bottled water, candle, and condiments such as vinegar, soy sauce, and fish sauce are among the basic necessities, according to the DTI.
“Patuloy po natin ‘yang mino-monitor kung magkakaroon ng circumstances that would prompt such declaration,” Cabochan said.
(We are continuously monitoring if there will be circumstances that would prompt such a declaration.)
Since the beginning of the year, petroleum prices have risen for 11 weeks in a row, bringing the year-to-date adjustments for diesel to P30.65 per liter, gasoline to P20.35 per liter, and kerosene to P24.90 per liter.
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