Chevron denies price fixing charges, eyes legal options

MANILA, Philippines - Chevron Philippines Inc. denied yesterday allegations it had engaged in price-fixing, price manipulation and predatory pricing as it is now evaluating its legal options against the Petroleum Distributors and Services Corp. (PDSC).

In a statement, Chevron said these allegations were previously dismissed by the Makati City Prosecutor’s Office.

The PDSC has asked the Department of Justice to prosecute Chevron Philippines Inc., owner of the Caltex brand, for allegedly controlling pump prices of fuel products.

In its statement, Chevron said in a Feb. 5, 2013 resolution, the Makati City Prosecutor’s Office dismissed the complaint for monopolies and combinations in restraint of trade filed by PDSC against Chevron and its directors in October 2012.

In the resolution, the prosecutor found no evidence to support the charges of PDSC against Chevron.

It said Chevron’s engagement into retail trade of fuel and fuel products and operation of its own gasoline stations is warranted under the Retail Trade Liberalization Act of 2000.

It also said that there is nothing irregular about the creation and operation of COCO or company owned, company operated stations.

“Chevron said that it is currently evaluating its legal options to address these obviously malicious imputations made against it and its directors,” Chevron said.

PDSC said Chevron’s creation of COCO’s has allegedly resulted in price manipulation.