DTI orders price cap in oil spill areas

MANILA, Philippines — The Department of Trade and Industry (DTI) has ordered a price freeze on basic necessities in areas hit by an oil spill from the sunken motor tanker Princess Empress.

In a statement issued yesterday, the DTI said its Mimaropa office released a price freeze bulletin in Oriental Mindoro.

The DTI said the price freeze is in effect in Pola, Naujan, Pinamalayan, Gloria, Bansud, Bongabong, Roxas, Mansalay and Bulalacao towns in Oriental Mindoro, which had been placed under a state of calamity due to the oil spill.

The price cap, which was implemented on March 6, will be effective for not more than 60 days.

Among those covered by the price freeze are canned fish and other marine products, processed milk, coffee, laundry or detergent soap, candles, bread, iodized salt, instant noodles and bottled water.

The DTI said violators face imprisonment of one to 10 years or a fine ranging from P5,000 to P1 million or both.

The DTI office in Oriental Mindoro is conducting intensified price and supply monitoring of basic necessities under its jurisdiction.

Under the Price Act, prices of basic necessities are automatically frozen at their prevailing prices once a state of calamity is declared in an area.