The Department of Trade and Industry 11 (DTI 11) is intensifying its price and supply monitoring to ensure the stability of basic commodities amid rising fuel costs.
“Although we regularly conduct price monitoring, we are now further intensifying our price and supply monitoring through our provincial offices across the six cities and provinces in the Davao Region,” said Romeo Vasquez Jr., chief of the Consumer Protection Division of DTI 11, during Kapehan sa Dabaw.
Vasquez said regular monitoring over the past three weeks showed that prices and supply of basic necessities and prime commodities remain generally stable.
He noted that the recent increase in oil prices has not significantly affected retail prices in the region.
“For the last three weeks of our price and supply monitoring, prices particularly for basic necessities and prime commodities have remained generally stable. In other words, prices are still compliant with our suggested retail price, and there is enough supply for consumers,” he said.
Vasquez explained that most goods are still being sold within the suggested retail price (SRP), and any minimal increases observed have remained below the 10 percent threshold.
He added that there is sufficient supply of goods in retail outlets.
Vasquez said monitoring teams from provincial offices and Davao City are conducting weekly inspections to track price and supply movements, particularly for essential goods.
To ensure compliance, the DTI continues to issue Letters of Inquiry (LOIs) to establishments found to have increased prices beyond the allowable range, requiring them to explain the adjustments within 48 hours.
He also reminded businesses and consumers of the penalties under Republic Act No. 7581, or the Price Act, as amended, including sanctions for illegal price manipulation, violations of price ceilings, and non-compliance with Suggested Retain Price (SRP) guidelines.
