Republic of the Philippines
DEPARTMENT OF ENERGY
DEPARTMENT CIRCULAR NO. DC2004-09-010
PROVIDING FOR OIL PRICE REPORTING THROUGH THE DOE ENERTEXT
WHEREAS, R.A. 8479, otherwise known as the "Downstream Oil Industry Deregulation Act of 1998", mandates the Department of Energy (DOE) to ensure a truly competitive market under a regime of fair prices and an adequate and continuous supply of environmentally-clean and high-quality petroleum products;
WHEREAS, SEC. 7 of R.A. 8479 provides that the Department of Trade and Industry (DTI) and DOE shall take all measures to promote fair trade and prevent cartelization, monopolies, combinations in restraint of trade and any unfair competition in the industry;
WHEREAS, R.A 8479 mandates the DOE to monitor and publish oil prices and act on any report of an unreasonable rise in the prices of petroleum products;
WHEREAS, Memorandum Circular No. 2001-05-002 provides for the oil companies engaged in business in the Philippines to notify the DOE of details of any oil price adjustments, whether upward or downward, at least one (1) day prior to its effectivity;
WHEREAS, the DOE recognizes the importance of its partnership with stakeholders in ensuring the rapid and reliable delivery of public service and in the promotion of consumer's power of choice;
NOW THEREFORE, in consideration of the foregoing premises and upon the effectivity of this Circular:
SECTION 1. Oil Price Reporting
All oil companies, operators of gasoline stations and LPG dealers shall be required to report to the DOE, through the DOE ENERTEXT, pump prices of all petroleum products and LPG prices sold in the establishment following the mechanism below:
1) Every 15th of every calendar month or upon the occurrence of any adjustment, shall report prices of petroleum products via the DOE ENERTEXT:
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