Special body sought to track prices of oil products By Charlie V. Manalo 09/14/2011

TO PROTECT PUBLIC FROM PREDATORY PRICING

Special body sought to track prices of oil products

By Charlie V. Manalo 09/14/2011

A member of the House of Representatives is seeking the creation of a special body to monitor the prices of petroleum products to protect the public from possible predatory pricing, or mispricing of pump prices by the oil companies.

In his letter to House Speaker Felciano “Sonny” Belmonte, Samar Rep. Ben Evardone said he is asking Congress to create a monitoring body to be placed under the Congressional Budget Policy Office (CBPO) to track the prices of oil products.

“The pricing of local fuel is something that the oil companies themselves determine based on metrics that they set, and with the pricing variables that are not shared with the general public,” Evardone said..... MORE

Source:  The Daily Tribune

URL: http://www.tribuneonline.org/metro/20110914met1.html