DOE to transport groups: We're doing our part

On the eve of a nationwide transport strike triggered by a series of fuel price hikes, the Department of Energy (DOE) defended its position saying it has kept itself transparent on the movements of local pump prices. Energy Secretary Jose Rene Almendras said that contrary to what transport groups are saying, his agency has remained cooperative by giving them access to computations of pump prices. “This gives the transport sector an idea of the international oil price levels, movements and comparison of past week compared to previous week levels, and the corresponding expected adjustments in the local pump prices using four different formulas," Almendras explained. He added that the DOE meets with transport groups weekly. The DOE posts on its website its formula for computing price adjustments, Almendras added. He also noted that pump prices in the Philippines remain competitive or lower compared to those of other countries. As a prelude to the transport strike, militant groups gathered in Quezon City on Wednesday to denounce the series of oil price hikes, which they said will eventually pull up prices of basic commodities.
For the latest Philippine news stories and videos, visit GMANews.TV Malacañang on Tuesday warned that sanctions await transport groups that will inconvenience the riding public during their scheduled strike. — With Paterno Esmaquel II/VS, GMA News