DOE told to monitor oil price hike (6:11 p.m.)

MANILA -- Malacanang has instructed the Department of Energy (DOE) to ensure that there will be reasonable price hike on petroleum products.

Presidential spokesperson Ricardo Saludo in a press briefing Thursday said the DOE was ordered to keep on monitoring pump prices in the international market and coordinate with oil companies to avoid overpricing.

Saludo said the government would want to ease the public’s burden in basic commodities especially now that the country is facing El Nino.

“We are monitoring the slight increase in oil prices… We already have a challenge from El Nino, we are always try and avoid further difficulties for our people. We asked the DOE to monitor pump prices and meet with oil companies and we hope that they will not overprice and follow the price in the world market,” he added. (Jill Beltran/Sunnex)