DOE: We can protect consumers sans PNoy emergency powers

Amid threat of more fuel price hikes, the Department of Energy reassured consumers Wednesday it can protect them from profiteers, even without emergency powers for President Benigno Aquino III. DOE Undersecretary Jose Layug Jr. also said giving Aquino emergency powers to deal with rising fuel prices may invite doubts from some groups, adding, "some people might even spread speculations about the implications of such powers." “We have sufficient laws and mechanisms to protect the public against profiteering. We do not see the need for emergency powers," Layug said in Filipino in an interview on dzXL radio. Earlier, Layug said the DOE has asked oil companies for a regular advisory on their pricing trends based on world prices of oil, and that they should increase their inventories from 15 to 30 days. He also said the DOE meets every Monday with transport groups to brief them on possible fuel price adjustments. On the other hand, President Aquino had thumbed down emergency powers as proposed by members of the House of Representatives last weekend. Actions vs profiteers Due to fears of profiteering and threats of protests stemming from rising fuel prices, the Department of Trade and Industry (DTI) has intensified price monitoring activities and tapped local government units to help monitor and report cases of hoarding and profiteering. Trade Undersecretary Zenaida Maglaya said concerned authorities will also meet and discuss ways to deal with unscrupulous traders. “We will add more monitoring teams and boost our visibility in markets. DTI Secretary Gregory Domingo had asked local governments and mayors who chair their local price councils to deploy more local price-watch teams especially in the markets," Maglaya said in Filipino in an interview on dzXL radio. Rising prices of fuel, caused by the political crisis in some oil-producing countries in the Middle East and in North Africa, draws fears profiteers might take advantage of the situation. Maglaya also said local government units have been asked to ensure price boards of basic goods are on display and make available for the public the “Timbangan ng Bayan" (market weighing scales). “The price boards should be kept updated while the public market scales should be in working condition to thwart profiteers," she said. Maglaya also said the DTI has long warned traders against using fuel price hikes as a reason to hike their prices, especially since they rarely roll back prices when fuel prices go down. Maglaya urged consumers to report suspected profiteering to the DTI hotline at 7513330. Protests Militants have been staging protest actions to spur government into showing "concern" and "political will" to protect consumers from the effects of recent fuel price hikes. The Bagong Alyansang Makabayan said the latest P2/liter hike in fuel prices should prod the Aquino administration into finding ways to protect consumers from high prices. "What is important is that [President Benigno III] Aquino should prioritize the measure. He has to show concern for consumers and political will to stand up to the big oil monopolies and profiteers. We have not seen any of these two traits," Bayan secretary general Renato Reyes Jr. said in a statement posted on Bayan's website. Bayan also urged the people "to protest the latest price increase and to press for immediate economic relief." Reyes lashed at profiteers saying, "Whether or not there is conflict in the Middle East and North Africa, speculators will always find ways to push oil prices higher so that they may reap super profits." Thus, he said, it becomes the responsibility of the government to protect its people from exploitation by speculators and super-monopolies. He said Aquino must now take seriously the proposal for the scrapping of the Value Added Tax on oil products to provide immediate relief for consumers. "This can lower oil prices by more than P5/liter," he added. — LBG, GMA News