Senator Bam Aquino urges producers to heed the Department of Trade and Industry’s call to roll back prices of goods and products, saying it will be a perfect Christmas gift to millions of consumers.

 

“It will be an ideal gift for millions of Filipinos if our producers follow DTI’s call to adjust their prices commensurate to the decrease in prices of oil products,” Aquino said.

 

“We must give our consumers some reprieve from the high price of goods from the market,” added Aquino, chairman of the Senate Committee on Trade, Commerce and Entrepreneurship.

 

Based on a DTI study, Aquino said oil prices in the world market have dropped 30 percent since June this year.

 

“The 30-percent drop in oil prices should translate to at least a 3-percent decrease in prices of goods,” Aquino emphasized, citing the DTI report.

 

The DTI is already determining how much should be deducted from the suggested retail price (SRP) of basic necessities and prime commodities that include agricultural and non-agricultural products.

 

The DTI has already released an initial guideline for a number of basic products where it indicates that a 155-gram can of sardines must go down by P0.2.

 

The guideline also states that a 370-milliliter (mL) can of evaporated milk should go down by P0.95; a 50-g coffee refill by P0.99; and a 25-kilogram (kg) sack of flour by P25.91.

 

Also, Aquino reminded consumers to compare prices of Noche Buena products with the DTI’s SRP list posted in supermarkets and other stores all over the country.

 

“This is to ensure that we are getting the Noche Buena goods at the right price,” Aquino said.

 

The senator urges consumers to report stores which violate the SRP through DTI’s hotline number (02) 751-3330.