Consistent with its statutory mandate to protect the public, the Department of Energy (DOE), through  the  Oil Industry  Management  Bureau,  is  tasked  to  closely  monitor  and evaluate actual  oil  price  movements, both  in  the  international  and  domestic  markets  to  prevent unreasonable  adjustments  and  abuses. However,  the  lack  of  transparency  in  the current practice of the DOE in using the rather “confidential” Mean of Platts Singapore (MOPS) data as the basis of retail prices of oil in the country, has even left stakeholders less equipped in analyzing the cost structure of domestic pump prices. This more than ever highlights the need for the DOE to at least reveal the indicative percentage share of each cost component of domestic pump prices so that third party verification is possible for the sake of transparency and  consumer  protection,  rather  than  reasoning  out  that  prices  of  domestic petroleum products tend to be sticky downward.

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