16/11/2024
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DOE Department Circular (DC) No. DC2016-08-0013 or the Guidelines on the Implementation of Republic Act 10623, Amending Certain Provisions of Republic Act No. 7581 (The Price Act), stipulates that a price freeze on petroleum products, specifically household liquefied petroleum gas (LPG) and kerosene, shall be enforced based on the prevailing prices at the time. This price freeze shall remain in effect for a maximum period of fifteen (15) days, commencing from the date of the official declaration of a state of calamity.ΒΉ
In this regard, oil companies are hereby warned that any attempt to exploit this situation by engaging in overpricing practices shall be subject to severe sanctions, which may include imprisonment for a period of one (1) to ten (10) years, or fines ranging from Five Thousand Pesos (Php 5,000.00) to One Million Pesos (Php 1,000,000.00), or both, at the discretion of the court.Β²
Further, pursuant to Presidential Decree No. 1865, the hoarding of petroleum products is strictly prohibitedΒ³, with violators subject to penalties of imprisonment for up to five (5) years, or a fine of up to Fifty Thousand Pesos (Php 50,000.00), or both.β΄
Please be guided accordingly.
ΒΉ Section 3.1, DOE DC No. DC2016-08-0013.
Β² Section 5.1, DOE DC No. DC2016-08-0013.
Β³ Section 2, Batas Pambansa Blg. 33, as amended by Section 1, Presidential Decree No. 1865.
β΄ Section 4, Batas Pambansa Blg. 33, as amended by Section 4, Presidential Decree No. 1865.
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