By Gabriela Baron
The Department of Trade and Industry (DTI) ordered on Monday, June 12, a price freeze on all basic necessities in Albay amid the Mayon Volcano unrest.
According to Memorandum Circular No. 04 Series of 2023, signed by DTI Albay Provincial Director Noel Buano on June 9, all wet markets, supermarkets, groceries, bakeries, hardware stores, and water refilling stations were reminded to comply with the price control act, prohibiting anyone who takes advantage of increasing prices.
This after placing the entire Province of Albay under the state of calamity.
READ MORE: Albay now under state of calamity due to Mayon’s looming eruption
Prices of basic commodities are automatically frozen at their prevailing prices for 60 days.
The price freeze was pursuant to Republic Act 7581 wherein consumers are protected from merchants’ unreasonable increases in prices in case a calamity or emergency situation occurs.
DTI warned all retailers not to violate the price freeze act or a punishment or a penalty awaits.
-ag
