Live Breaking News & Updates on Nergy Undersecretary Gerardo Erguiza Said The Fuel Crisis Problem Lies With Rising Prices

MANILA - An official from the Department of Energy on Monday assured the public that the Philippines has enough supply of fuel products. During a Fuel Crisis Ad Hoc Committee hearing at the House of Representatives, Energy Undersecretary Gerardo Erguiza said the fuel crisis problem lies with the rising prices, as he called on Congress to revisit the 1998 Downstream Oil Industry Deregulation Act. "Wala po problema sa supply, ang inventory is more than 40 days. ang problem ho natin ngayon is presyo pero quantity wala ho tayong problema (We don't have a problem with supply. We have more than 40 days in our inventory. The problem is with the price, but we don't have any problem with the quantity)," Erguiza told lawmakers. In her opening remarks, House Committee on Economic Affairs chair, Rep. Sharon Garin, said the hearing is being held because of the direct impact of the fuel crisis on economic stability at a time when the country is just beginning to ease Covid-19 pande ....

Sharon Garin , Joey Salceda , Rodrigo Roa Duterte , House Committee On Economic Affairs , Energy Undersecretary Gerardo Erguiza , Oil Deregulation Law , Duringa Fuel Crisis Ad Hoc Committee , Department Of Energy On , Means Committee , Oil Industry Deregulation , Department Of Budget , Fuel Crisis Ad Hoc Committee , House Committee , Economic Affairs , Martin Delgra , House Ways , Value Added Tax , Minimum Inventory Requirements , Utility Scale Battery Storage , President Rodrigo Roa , Manila An Official From The Department Of Energy On Monday Assured Public That Philippines Has Enough Supply Fuel Products Duringa Crisis Ad Hoc Committee Hearing At House Representatives , Nergy Undersecretary Gerardo Erguiza Said The Fuel Crisis Problem Lies With Rising Prices , S He Called On Congress To Revisit The 1998 Downstream Oil Industry Deregulation Act Quot Wala Po Problema Sa Supply , Ng Inventory Is More Than 40 Days Ang Problem Ho Natin Ngayon Presyo Pero Quantity Wala Tayong Problema We Don 39t Havea With Supply Have In Our The Price , Ut We Don 39t Have Any Problem With The Quantity , Uot Erguiza Told Lawmakers In Her Opening Remarks ,