Price increase sought for 43 food products

Hefty pu pump price hikes set next week

- CATHERINE TALAVERA,

Fourteen manufacturers of basic necessities and prime commodities (BNPCs) have filed requests for price increases, the Department of Trade and Industry (DTI) said yesterday.

Fuel pump prices, meanwhile, are expected to go up sharply next week, further extending the streak of increases in gasoline, diesel and kerosene prices to an 11th week.

Oil firms are set to announce the price adjustments on Monday, but an industry source said the hikes may range from P1.20 to P1.30 for gasoline and from P1.80 to P1.90 per liter for diesel. Kerosene prices are seen rising by P1.50 per liter.

On the requests for price increase for basic goods, the DTI said its consumer protection and advocacy bureau is still studying the matter. Trade officials also declined to identify the manufacturers or other details regarding their requests.

In a report on ABS-CBN television, Trade Assistant Secretary Jean Pacheco said the DTI wants to discuss with manufacturers their price increase requests.

“We need to talk to them. We need to ask them what should be done, to be improved, because there are expenses in distribution and logistics. We want to reduce that,” Pacheco was quoted in the news report as saying.