DOJ says oil firms committed to gradual increase once E.O 839. is finally lifted

November 12, 2009 9:32 pm 

MANILA, Nov. 13 —- The Department of Justice (DOJ) assured the public on Friday that oil price hikes will be gradual once Executive Order (EO) 839 is finally lifted.

DOJ Secretary Agnes VST Devanadera also said that the country’s oil companies are expected to follow the lead of two oil firms that already committed to increase their prices gradually.

She said Petron and Seaoil committed at a meeting of the government task force that they will raise their prices gradually once the Executive Order 839 is lifted.

The DOJ chief added that representatives of the other oil firms did not object to that proposal.

She also said that oil firms also agreed to grant discounts to areas still reeling from the devastation wrought by typhoons “Ondoy” and Pepeng”.

She said the discounts involve about P2 per liter and will cover mostly diesel.

Devanadera added that the DOJ will go after the oil companies should they decide to implement a very steep price increase.

On Thursday, the Department of Energy-DOJ task force recommended to Malacañang the lifting of Executive Order 839 which limits fuel prices to Oct. 15 levels. (PNA) V3/PFN

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