Independent Oil Price Review Committee (IOPRC) found no Overpricing

September 6th, 2012 No Comments   Posted in Oil Pricing Formula

Independent Oil Price Review Committee (IOPRC) found no Overpricing

In today’s news (Philippine Start, Sep 6, 2012, page B-3), the IOPRC released its findings after presenting the results to the DOE Secretary Rene Almendras and subsequently in a press conference at the DOE.

“Contrary to popular belief, oil companies are not overpricing their fuel products and are, in fact, merely tracking international price adjustments”, says the press report.   More »