Fuel Price Increase [Merged]

[Marc MD]

wahaha! kargahan ko na kaya ng diesel ang tsikot ko para mas mura!!

[chieffy]

merong bang bagong balita? lagi naman tumataas presyo ng fuel...dumadami ang kung anu-anong lech$%^&* tax...pagsabog dito, doon...

hay...masisira lang araw natin...para di maramdaman ang pagod(kaka tsikot ) at problema, buti pa tingnan na lang natin ulit pictures ni nicole hernandez

[ILuvDetailing]

Haay as usual gusto lang nilang bawiin ang kanilang "lugi"... eh pag bumababa naman yung presyo ng gas di naman nila binababa at kapag binababa ilang centavos lang di man lang umaabot ng piso.

[BlueBimmer]

at this rate aabot ng P35 na at the end of the year!

[cyberdoc95]

[SIZE=3]Price hikes fuel deregulation law repeal[/SIZE]

By JODEAL CADACIO
TODAY Senior Reporter

Congressmen from both sides of the political fence on Monday slammed the new round of fuel-price increases, and moved for the repeal of provisions in the Ramos-era dowstream oil deregulation law that unduly favor oil companies.

Crossing party lines, the legislators blamed the law for what they called the “unmitigated and unjustified” rise in local pump prices. They said that the profit-hungry oil companies exploited the law to the hilt to rake in huge profits at the expense of consumers.

House Minority Leader Francis Joseph Escudero, Lakas Reps. J. Mayo Almario of Davao Oriental and Robert Ace Barbers of Surigao del Norte and Party-list Rep. Crispin Beltran of Anakpawis issued separate statements criticizing the oil companies’ move to raise fuel prices by an average of P0.60 per liter.

Escudero said the minority bloc had long advocated a review of the oil deregulation law, with the end in view of repealing provisions that do not serve the public’s interest.

“We’ve seen how the oil deregulation law has ended up as a tool by the oil companies to rake in megaprofits. Fuel prices have gone up by more than 40 percent over the last two years. It is high time for Congress to review the law and repeal some of its onerous provisions,” Escudero told Today in an interview.

He said the law has given the oil giants the blanket authority to jack up fuel prices without any justifiable reasons.

Almario, chairman of the House Committee on Games and Amusement, said it is obvious that the law failed in promoting fair trade in the oil industry, and that the people have become victims of the oil firms’ greed for profit.

“As it is now, the monopoly in the oil industry still exists, and the people have not felt the fair trade that was promised by proponents of the law,” Almario said.

Barbers, chairman of the House Committee on Accounts, revived his proposal for the government to reacquire majority ownership of Petron by buying back the 11-percent share, which is sold to the public and is now being traded in the stock market.

Barbers said that unmitigated and unwarranted oil price increase would have been prevented had the government retained control of Petron, the biggest player in the downstream oil industry.

He said that by reacquiring another 11-percent share, the government would be able to regain control and management of Petron. “Control over Petron would give the government the power to check against unmitigated and unwarranted oil price increases such as this most recent increase by the Big Three [Petron, Caltex and Shell],” Barbers said.

In the eight years that the law has been in effect, the country bore witness to the unjust escalation of fuel prices, he noted. Last year, gasoline prices rose six times, while the prices of diesel went up five times.

For his part, Beltran said the oil giants are using the proposal to have them pay the value-added tax as an excuse to jack up fuel prices.

He said the review of the oil deregulation law is long overdue.

The government has finalized the membership of a committee that will conduct a 90-day review of the oil deregulation law.

The committee, whose members are from the oil, power and transport sectors, will present its recommendations to the incoming energy secretary, Raphael Lotilla, on possible amendments to the Republic Act 8479 after concluding a 90-day review. Perez, who will step down from his post effective March 14, said the review panel will conduct a series of consultations with various stakeholders. With L. Lectura


SOURCE:ABS-CBN NEWS

[baiskee]

tataas na naman mamayang gabi!

pa full tank na kayo. :D

[ILuvDetailing]

kakafull tank ko lang nung Tuesday... dapat ibasura na yung Oil Deragulation law pero malabo, iba talaga yung the color of money.

[BlueBimmer]

oi buti nalang, pafull tank na ko mya hehe

[boydapa]

baka dumating yun araw na yun oto lagi nlng nakapark sa bahay tinititigan ko thinking na nagdadrive ako.

malaking pera ang usapan dyan hindi kaya ng publiko mag exert ng political force sa mga opisyal natin sa govnmt(lalo na DOE), congress para matangal yan bwisit na batas na yan---di natin kaya tumbasan ang mga bilyones na kayang ipalabas ng mga oil companies na yan para para isupalpal sa mga mukha ng ating mga public ofisyals. eh ang mga opisyal pa naman natin mukhang pera. unless magsamasama lahat yun lng ang hope natin.. pero kng watak watak tayong nagrereklamo wala tayo mararating

[mazdamazda]

world oil prices are at a 5-month high. no wonder.