DOE may require oil firms to disclose cost breakdown for fuel pricing

The Department of Energy (DoE) plans to be “stringent” in monitoring the prices of petroleum products by requiring oil companies to disclose the breakdown of the cost components that go into the pricing of fuels.
“Identification of the costing for the major components of these petroleum products that may affect the pump prices would provide a higher level of transparency for our consumers, particularly the motorists,” said DoE Secretary Alfonso G. Cusi said in a statement on Tuesday, May 8. — Victor V. Saulon