Tuesday, January 14, 2020
It has been reported that some retailers have jacked- up their prices of face masks and gas masks, taking advantage of the surge in demand of these products due to the recent eruption of Taal Volcano.
The Department of Trade and Industry hereby issues notice to all retailers that we have dispatched teams to monitor and observe movement of retail prices in the market.
Those found to have unreasonably increased their prices for gas masks, face masks and other similar items, which act is tantamount to profiteering, shall be dealt with to the fullest extent of the law.
Prices of manufactured basic necessities and prime commodities shall likewise remain unchanged as of the published September 30, 2019 DTI Suggested Retail Price Bulletin.
DTI will not hesitate to file administrative and criminal charges against unscrupulous business entities and individuals who capitalize on the consumers’ need for their own profit.
PLEASE BE WARNED ACCORDINGLY.