ILOILO City – Recent increases in the prices of fuel have not significantly affected the cost of goods in Iloilo city and province, according to the Department of Trade and Industry (DTI).
The effect was “very minimal”, said Felisa Judith Degala, director of DTI-Iloilo.
DTI inspection teams have been mobilized to monitor prices in stores and markets to ensure compliance with the standard retail price (SRP) – weekly in the city and monthly in the province.
“Wala naghulag ang presyo sang aton retailers sa basic necessities and prime commodities,” Degala told Panay News.
Basic necessities refer to rice, corn and bread; fresh, dried and canned fish and other marine products; fresh pork, beef and poultry meat; fresh eggs, coffee, sugar, cooking oil, salt, laundry soap and detergents, among others.
Prime commodities, on the other hand, refer to fresh fruits; dried, processed and canned pork, beef and poultry; meat, dairy products not falling under basic necessities; noodles, onions, garlic, diapers, herbicides; and poultry, swine and cattle feeds, among others.
According to Degala, fuel is not a major component in manufacturing.
In computing the price of products, according to Degala, the basis is the movement of “direct” or raw materials on the manufacturing side like canned sardines whose most materials are fish, cans and sauce.
Though fuel is used in the distribution of the products, “naga-share lang (ini) sa distribution cost,” Degala said, citing other components in the distribution such as freight, packaging, shipping and personnel and logistics.
In the event a manufacturer requests for a price increase, citing fuel as the biggest factor, Degala said it would go through a rigorous process like compliance with necessary documents and evaluation by the National Price Coordinating Council, of which DTI is a member.
In addition, if the manufacturer’s request is approved, it will take 30 days before it becomes effective, Degala stressed./PN
