In a press conference today, Mylene Santos, Downstream Communications Manager of PSPC announced that the implementation of price adjustments on a weekly basis is aligned with the company’s aims for greater pricing transparency. “We continue to implement adjustments in our product prices every week to reflect greater pricing transparency. To this effect, we do not moderate adjustments, upward or downward to reflect current market realities”, Santos said. Oil pricing is driven primarily by fundamentals of international product costs and foreign exchange. Since the oil industry is deregulated, however, the ultimate determinant of oil pricing is market competition. | 
