Chevron denies price fixing, manipulation

MANILA, Philippines - Chevron Philippines Inc. is denying allegations that it has engaged in price-fixing, price manipulation and predatory pricing.

Chevron pointed out that all the allegations of the Petroleum Distributors and Distribution Corp. (PDSC) against it have been dismissed by the Makati City Prosecutor’s Office. In a resolution dated Feb. 5, 2013, the Makati City Prosecutor dismissed the complaint for Monopolies and Combinations in Restraint of Trade filed by PDSC against Chevron and its directors in October 2012.

In that resolution, the Makati City Prosecutor found no evidence to support the charges of PDSC against Chevron. The Makati City Prosecutor pointed out that Chevron’s “engagement into retail trade of fuel and fuel products as well as operate (sic) its own gasoline stations, is warranted under the Retail Trade Liberalization Act of 2000” and that the “creation and operation of COCOs is an industry practice that is even recognized by the Department of Energy, thus, regular and legal.”

Chevron said it found the timing of the release of the articles as suspect and opportunistic coming immediately after PDSC filed its appeal with the DOJ and upon insinuations in various headlines that the complaint was lodged by more than one disgruntled dealer that it is currently evaluating its legal options to address these obviously malicious imputations made against it and its directors.