THE DEPARTMENT of Trade and Industry (DTI) said it would closely monitor the prices of bottled water, plastic drums and other water containers amid concerns over possible hoarding and profiteering as a super El Niño threatens to strain water supply.
This comes as the government braces for the impact of a super El Niño, which experts expects to reach “very strong” levels before the end of 2026 and persist through the first half of 2027.
The DTI said supplies of the basic good remain adequate, but that it would intensify price monitoring and coordinate closely with manufacturers and distributors to ensure that supplies remain steady.
“Businesses and sellers are reminded to act responsibly and refrain from taking advantage of the situation through unjustified price increases,” the DTI said in a statement late Thursday, October 1.
Fines, sanctions
“The department will not hesitate to impose the appropriate fines, penalties, and other sanctions against those found to be violating applicable laws and regulations,” it added.
Hoarding and profiteering are considered illegal acts of price manipulation under Republic Act No. 7581, or the Price Act of 1992.
Offenders face imprisonment of five to 15 years and a fine ranging from P5,000 to P2 million. (Logan Kal-El M. Zapanta © Philippine Daily Inquirer)
