DEPARTMENT of Trade and Industry (DTI) 7 has confirmed no price increases for candles for All Saints’ and All Souls’ Day.
DTI 7 Director Asteria Caberte said that based on recent monitoring, the trade agency has not observed price increases for candles, with demand anticipated to surge in observance of the yearly Catholic tradition.
DTI’s Online Price Monitoring System (OPMS) or “E-presyo” updated as of March 1 showed the suggested retail prices for Sevilla Candle Factory, Inc. (Bahay Liwanag), Manila Wax Commercial Corp., and Export Candles.
Candles are among the products classified under basic necessities under the Price Act.
“Based on the last monitoring conducted, prices of candles remain to be stable and supply is sufficient,” said Caberte yesterday.
The last price increase for candles was recorded in 2014, when the cost of paraffin wax increased from P88.20 in 2011 to P94.60 in 2014. As a petroleum-based product, candles are also affected by high oil prices.