(PNA file photo by Avito Dalan) MANILA - The Department of Energy (DOE) on Tuesday proposed that mechanisms of Republic Act (RA) 8479 or the Oil Deregulation Act be provided with a framework for the government to intervene and address sudden or prolonged oil price hikes, including unbundling the cost of petroleum retail products to determine their real and passed-on costs During the Senate Committee on Energy's consultative meeting with oil industry stakeholders, DOE Undersecretary Gerardo Erquiza Jr. recalled that Secretary Alfonso Cusi previously issued Department Circular 05-0008 series of 2019 requiring the unbundling of oil prices for its data gathering and policymaking function. Upon the opposition of oil industry players, Erquiza said the circular was subjected to an injunction by the courts despite the DOE's argument that the "unbundling policy" is not violative of the RA 8479. "That is why we want this to be incorporated in the law para may ngipin ito at
OIL firms announced a price rollback the first time since the start of the year effective Tuesday morning after 11 consecutive weeks of oil price increases. They announced on Monday that gasoline prices will go down by P5.45 per liter, diesel by P11.45 per liter, and kerosene by P8.55 per liter. The…
The improvement in terms of economic activities brought by worldwide COVID-19 vaccination drives has prompted the recent oil price hike in the country, an official of the Department of Energy (DOE) explained Wednesday, Oct. 6. DOE Asec. Gerardo Erquiza said that as the "economy moves," the demand f
The improvement in terms of economic activities brought by worldwide COVID-19 vaccination drives has prompted the recent oil price hike in the country, an official of the Department of Energy (DOE) explained Wednesday, Oct. 6.
DOE Asec. Gerardo Erquiza said that as the "economy moves," the demand