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MANILA, Philippines – In an effort to determine if there is overpricing in petroleum products, the Department of Energy announced the creation of an Independent Review Committee.
In a statement on Tuesday, January 31, the DOE said the committee will review the books of the oil firms starting February 1 to determine if they have been accumulating excessive profits.
The members of the committee are:
- Dr. Benjamin E. Diokno, economist
- Dr. Rene B. Azurin, representative from the academe
- Dr. Jesus O. Estanislao, business community
- Mr. Raul T. Concepcion, consumer group
- Dr. Victor D. Abola, economists,
- Mr. Dexter F. Ortega, accountants
- Atty. Vigor D. Mendoza, public transport
The DOE initiated the review committee to provide the public information on the allegations of overpricing of oil companies in the midst of volatile local fuel pricing. – Rappler.com