Malacañang says government monitors fuel prices without let up

April 30, 2012 10:46 pm 

MANILA, April 30 — Malacanang assured the public that the administration is continiously in its monitoring of fuel prices following reports that the oil price in the world market has gone down, a Palace official said on Monday.

"Bumababa po ang presyo ng langis po ngayon. So patuloy po ang pag-monitor po ng presyo natin sa langis," Presidential Spokesperson Edwin Lacierda said during the regular press briefing in Malacanang on Monday.

With the new price movement in the global market, the Department of Energy (DOE) is monitoring the oil price adjustments being imposed by the oil companies.

Lacierda assured that the Aquino government will continue implementing measures to contain the inflation rate to keep the prices of basic commodities.

With the forecast that the oil prices in the world market will continue to drop, the government projects that inflation will stay within the target range.

"Kung may epekto po ito sa mga bilihin? We have already said that the inflation rate po natin ngayon is 2.6—second lowest in Southeast Asia. Ang basic prices po ay bumababa—tulad po ng mga sabon, flour, canned sardines. May ibang tumataas nang konti," he said.

Lacierda said the Aquino government managed to contain the inflation amid the global economic slowdown and the increase of oil prices in the past.

"Hindi po nangyari ‘yon because our inflation rate is manageable, in fact, at 2.6 which is the lowest so far since the recent past," he added.

The data released by the National Statistics Office showed that the inflation in March was at 2.6%, down from 2.7% in February due mainly to slower price increases for alcoholic beverages and tobacco as well as clothing and footwear, while increase in housing and utility costs also eased.

The inflation rate supported the central bank's view that its record high policy rates are keeping price rises under control.

Bangko Sentral ng Pilipinas Gov. Amando Tetangco said the March data, the lowest since 2.2% in September 2009, indicates that inflation in the country will be manageable during the current policy horizon. (PNA) DCT/PCOO/ssc

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