Definition of Hoarding
- Hoarding means the undue accumulation of petroleum products above normal inventory.
- It also includes unjustified refusal to sell, dispose of, or distribute LPG to consumers.
Prohibited Acts under the Law
- Section 2 (b) specifically prohibits hoarding of petroleum and petroleum products.
Penalties for Violators
- Conviction leads to a fine from P20,000 to P50,000.
- Alternatively, imprisonment ranging from 2 to 5 years may be imposed.
- The court has discretion to impose either or both penalties.
Administrative Sanctions
- Separate from penal sanctions, administrative penalties may apply.
- After due notice and hearing, the Bureau may impose a fine up to P10,000.
- The Bureau may also suspend or revoke licenses or permits of related entities such as haulers, marketers, refillers, dealers, sub-dealers, or retail outlets.
Enforcement Authority
- This Bureau has authority to enforce these provisions and apply penalties to ensure market stability and consumer protection.