(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
The government’s P1 provisional fare hike last week has become “practically useless” as oil companies jacked up oil prices anew this week, leaving drivers with financial losses projected to be as high as P2,500, transport coalition Pagkakaisa ng mga Samahan ng Tsuper at Operator Nationwide (Piston) said yesterday.
What’s the 5.4 percent inflation meant for the Filipino consumers? Do consumers have choices at the moment? A media person asked me what consumers can do on rising prices? My reply was very pragmatic. I said none. If the consumers cannot afford to buy the item, then don’t buy it. The P33 salary hik