Daco may Freeze Gasoline Prices
The Consumer Affairs Department (DACO by its Spanish acronym) will freeze gasoline prices if wholesalers continue to increase their profit margins as reports by external economists claim, Secretary Nery Adames said Tuesday.
Adames made his remarks at a Senate Labor Relations, Consumer Affairs and Job Creation Committee hearing investigating the reasons why the drop in oil prices is not reflected at the pump.
Committee Chairman Luis Daniel Rivera Filomeno said oil prices continue to slide but those savings are not being passed on to consumers. “We don’t know where the money from the savings is going,” he said.
Adames said the agency is evaluating the latest reports to be able to make a determination about freezing gasoline prices.
He noted that consumers should also keep an eye out for gasoline retailers that are selling gasoline at high prices, or at more than 59 cents a liter.