09 November 2005
Slight hike in prices of basic goods
PRICES of basic goods in Pangasinan have generally remained stable except for a P90 increase in liquefied petroleum gas (LPG) that now costs P510 per cylinder.
Significantly, other basic commodities like flour, which is used for bread and other pastries exhibited a decreased price even as vegetable prices remained generally steady.
As predicted by finance and power sector officials, gasoline pump prices went up almost immediately catching many motorists, who thought it would be jacked up only a day or two later, by surprise last November 1.
The provincial office of the Department of Trade and Industry said it has mobilized four teams to monitor prices of basic commodities to make sure that traders do not unduly increase the prices of their goods following the implementation of the Reformed Value Added tax Law. (See related story elsewhere in this issue of The Pangasinan Star)
DTI officer Marjorie Loresco said they are keeping a tight watch on various stores and supermarkets to ensure that traders do not take undue advantage of the consuming public.
Store owners should not raise the price of their goods beyond the limit of the suggested price given to them by the manufacturers, she said, adding that traders are not also allowed to impose more than the required 10 percent VAT for these commodities.
The DTI said that consumers are complaining because the prices of almost all kinds of commodities have increased and they are blaming this to the implementation of EVAT.
Loresco explained that the P90 increase in LPG price was due to the imposition of 10 percent VAT on petroleum products, which in the past were exempted.
She is however confident that the price of LPG might decrease next week due to an expected P10 rollback in the price of oil.
Significantly, other basic commodities like flour, which is used for bread and other pastries exhibited a decreased price even as vegetable prices remained generally steady.
As predicted by finance and power sector officials, gasoline pump prices went up almost immediately catching many motorists, who thought it would be jacked up only a day or two later, by surprise last November 1.
The provincial office of the Department of Trade and Industry said it has mobilized four teams to monitor prices of basic commodities to make sure that traders do not unduly increase the prices of their goods following the implementation of the Reformed Value Added tax Law. (See related story elsewhere in this issue of The Pangasinan Star)
DTI officer Marjorie Loresco said they are keeping a tight watch on various stores and supermarkets to ensure that traders do not take undue advantage of the consuming public.
Store owners should not raise the price of their goods beyond the limit of the suggested price given to them by the manufacturers, she said, adding that traders are not also allowed to impose more than the required 10 percent VAT for these commodities.
The DTI said that consumers are complaining because the prices of almost all kinds of commodities have increased and they are blaming this to the implementation of EVAT.
Loresco explained that the P90 increase in LPG price was due to the imposition of 10 percent VAT on petroleum products, which in the past were exempted.
She is however confident that the price of LPG might decrease next week due to an expected P10 rollback in the price of oil.
