Energy secretary Angelo Reyes vowed that the Department of Energy (DoE) will unrelentingly and aggressively monitor the prices of petroleum products in the country to ensure that consumers get fair and just pricing for gasoline, diesel, and liquefied petroleum gas (LPG).

Reyes said his department is constantly on the guard against any predatory or cartelized pricing by anyone or any group.

Reyes pointed out that what the DoE is monitoring is the reasonableness of prices (SRPs) of gasoline, diesel and LPG as set by oil dealers for the compliance of their dealers.

“We will continue to monitor the oil companies and we will continue with the audit and dialogue with them,” said Reyes.

The DoE chief said that a review of the oil companies’ books had already been conducted by his department and that another review of the oil players’ books is in the offing. He said the DoE intends to conduct regular audits of the oil companies’ books to guard against unjust pricing. Earlier, the Reyes explained that setting price ceilings on petroleum products, aside from being against the Oil Deregulation Law, might also force oil players to just abandon the Philippines as a market.