DTI intensifies Iloilo price monitoring amid oil crisis

By Mariela Angella Oladive

The Department of Trade and Industry Iloilo Provincial Office has intensified price monitoring operations across the province to protect consumers and maintain market stability amid the global oil crisis.

From April 6 to 8, monitoring teams were deployed in key economic areas, including Iloilo City and the northern municipalities of Concepcion, Batad, Estancia, and San Dionisio.

The inspections covered various retail establishments to ensure compliance with pricing rules on basic necessities and prime commodities.

“Prices of basic goods remain within the Suggested Retail Price (SRP), and current supply levels are stable enough to meet public demand,” the DTI Iloilo monitoring team said in a statement.

The agency said the intensified monitoring is part of proactive efforts to shield consumers from unjustified price increases driven by volatile global fuel costs.

Earlier this week, the DTI extended the price freeze on basic necessities and prime commodities until April 30, pushing back the previous April 16 deadline.

The extension covers essential items such as canned sardines, processed milk, bread, coffee, locally manufactured instant noodles, bottled water, laundry soap, candles, salt, canned meat, condiments, and toilet soap.

The agency also warned retailers against hoarding and profiteering.

Under Republic Act 7581, or the Price Act, selling goods at prices more than 10 percent above prevailing market rates constitutes profiteering and may lead to fines of up to PHP 1 million, along with possible criminal and administrative penalties.

The global oil crisis has driven successive fuel price increases in the Philippines in recent weeks, raising concerns about spillover effects on the cost of food and basic goods, particularly in provinces reliant on land and sea transport for commodity distribution.