"That way, they will be forced to sell their products at a much lower price," Energy Secretary Angelo Reyes said in an interview on DZMM.
The Energy chief said the recent rollback of 25 centavos for gasoline and 50 centavos for diesel was not enough, citing that this only be negated by a sizable future oil price hike.
The DoE said the latest price rollback only reflected the slowly-increasing price of crude oil in the world market. If the price of oil stays at $67 to $68 a barrel next week, there would likewise be a price hike of 75 centavos to P1, independent oil player Flying V spokesperson Joey Cruz said.
The DoE said service stations in Quezon City selling gasoline and diesel at the lowest price include the Seaoil station in Santolan Avenue (unleaded gasoline at P33 per liter) and the Caltex station in Lagro (diesel P24.25 per liter).
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