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(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 ....

Sherwin Gatchalian , Imee Marcos , Gerardo Erquiza Jr , Department Of Energy , Oil Deregulation , During The Senate Committee On Energy , Committee On Energy , Republic Act , Oil Deregulation Act , Senate Committee , Gerardo Erquiza , Secretary Alfonso Cusi , Department Circular , Senator Sherwin Gatchalian , Na File Photo By Avito Dalan Manila The Department Of Energy Doe On Tuesday Proposed That Mechanisms Republic Act Ra 8479 Or Oil Deregulation Be Provided Witha Framework For Government To Intervene And Address Sudden Prolonged Price Hikes , Ncluding Unbundling The Cost Of Petroleum Retail Products To Determine Their Real And Passed On Costs During Senate Committee Energy 39s Consultative Meeting With Oil Industry Stakeholders , Oe Undersecretary Gerardo Erquiza Jr Recalled That Secretary Alfonso Cusi Previously Issued Department Circular 05 0008 Series Of 2019 Requiring The Unbundling Oil Prices For Its Data Gathering And Policymaking Function Upon Opposition Industry Players , Rquiza Said The Circular Was Subjected To An Injunction By Courts Despite Doe 39s Argument That Quot Unbundling Policy Is Not Violative Of Ra 8479 Why We Want This Be Incorporated In Law Para May Ngipin Ito At Makita Natin Talaga Ang So It Will Have Teeth And Can Really See Transparency , Uot He Told The Committee Equiza Also Suggested That If Senate Decides To Suspend Fuel Excise Tax , T Should Be Incorporated Into The Minimum Inventory Requirements Of Ra 8479 Committee On Energy , Haired By Senator Sherwin Gatchalian , Onducted The Consultative Meeting To Hear Concerns And Recommendations Of Stakeholders Regarding Constant Oil Price Hikes Erquiza Likewise Lauded Incoming Administration For Its Plans Tap Nuclear Power As An Alternative Energy Source Lessen Effects Senator Imee Marcos Said Quot Seductive Proposal Would Takea Long Time Maybe We Are Looking Quick Wins In Next Few Months Because Will Be Faced With This Problem Sectors That Impacted So Large , Ransport And Agriculture , Nd Neither Of Which Will Benefit From The Nuclear Proposal Just Yet , Uot Marcos Said Erquiza Admitted It Isa Challenge To Respond The World Market But They Are Looking Improve Current Fuel Subsidy System He Also Appealed Consumers Conserve In Order Lower Demand And Consumption Of Petroleum Products Pna ,