The Department of Energy will continue keep a close watch on Liquified Petroleum Gas prices, it said Friday.
According to the DOE, LPG prices have actually gone down six times this year for a total decrease of PHP9 per kilogram. In contrast, prices have only gone up by PHP2.50 per kilogram this month.
LPG is deregulated, meaning pricing is left to the companies that make and sell LPG. The DOE computes petroleum prices but cannot impose prices on companies. It can, though, check whether price increases are reasonable. It also sends out field inspectors to check whether LPG is sold at the prices declared by oil companies.
Under the Oil Deregulation Law, oil companies have to inform the DOE of price adjustments six hours in advance.
