Traders should lower prices of goods – Marcos

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Senator Ferdinand Marcos Jr. said on Tuesday that if public transport organizations are willing to reduce fares following the series of fuel price roll backs, there is no reason why the business sector could not do the same.

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Marcos lauded public transport groups Alliance of Concerned Transport Organizations (ACTO) and Pinagkaisang Samahan ng Tsuper at Opereytor Nationwide (PISTON) for their proposal to cut the minimum fare for passenger jeepneys by 50 centavos.

“This is a good example of social responsibility. I believe we have a lot of companies that are conscientious enough to start lowering prices on their own without government order or action and this is what they should do. These transport groups have shown the way and other sectors should follow suit,” he said.

Marcos, who is running for senator as an independent, earlier asked the Department of Trade and Industry (DTI) to explain why the prices of basic commodities remain high despite the weekly reduction in pump prices.

He noted that the huge decrease in the prices of oil, especially diesel, affects the transportation and production costs of the manufacturing and retail sectors, but prices of basic goods remains high.

Compared to the to the prices of petroleum products in 2014, Marcos said, the current fuel price is much lower and should have resulted in the decrease on the prices of basic commodities.

Just last Monday, oil companies announced another round of oil price rollback which put diesel prices in the range between P19 and P22.80 per liter while gasoline prices ranged from P32 to P38 per liter.

“The Filipino people should be feeling the progressive effect of the oil price reductions but prices remain high. These transport groups have shown the way for others to emulate. But I think the government must also do its part to bring reprieve to our countrymen,” Marcos said.

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