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Monday, January 18, 2016

WATCH: DTI Pushing To Lower Prices of Goods But Businessmen Resisting The Price Cut

The Department of Trade and Industry or DTI is pushing for rollback in prices of goods and services because of the continued decline in the  price of crude oil in the world market. It can be noted that there had been series of rollback in the price of fuel.
 However the Federation of Philippine Industries which consist of many businessmen are resisting for the said rollback saying the shipping and trucking costs  have yet to decline first. But the DTI said the total cost should have gone down even if transport cost remain at the same level.

  The agency also plans to coordinate with the Agriculture Department since prices of fish, pork, poultry and other fresh produce should also be reduced with the fuel prices cuts. 

They will also convene with the National Price Coordinating Council to discuss the cut in prices of goods and commodities.  It is also expected that retailers would cut on the fuel prices this week as crude prices continue to drop in the world market.