Raps filed over fuel hoarding, profiteering
After the national emergency President Marcos declared on Wednesday, the Philippine National Police has begun filing criminal cases for hoarding and profiteering amid the expected oil supply crisis driven by the ongoing conflict in the Middle East.
The PNP released data at a press briefing in Camp Crame, showing at least five cases of hoarding and profiteering in the provinces of Eastern Samar, Albay, Masbate and Davao del Sur after the police were tapped to assist the Department of Energy (DOE) in a crackdown.
The PNP did not immediately detail each case of hoarding or profiteering, but the DOE announced earlier this month that the government has started monitoring gas stations as part of the whole-of-government approach ordered by Mr. Marcos.
No premature hikes
Energy Secretary Sharon Garin stressed that any fuel price adjustments must follow the proper schedule and unauthorized or premature increases are prohibited.
She said the DOE has intensified inspections of fuel stations together with the Department of the Interior and Local Government and the PNP to prevent hoarding, profiteering or supply manipulation.
She said the President wants government agencies to stay vigilant to protect consumers from possible price manipulation.
“It is not the time to sleep soundly and do nothing, because we will be the ones who lose if the government becomes complacent,” said Garin, who assured, however, that the country has adequate fuel supply.
The Price Act of 1992 (Republic Act No. 7581) penalizes the hoarding of and profiteering from basic necessities and prime commodities with imprisonment, ranging from 1 to 15 years, and fines, from P5,000 to P2 million, depending on the nature of the offense.
