Senator: Government must intervene on gasoline pricing-A A +A
Tuesday, October 16, 2012
IN HIS talk with local radio in Cagayan de Oro, Senator Francis Escudero revived calls for the government to intervene with “uncontrollable” pricing of fuels in the provinces.
“Unlike in Metro Manila, oil companies have fear in media. They follow what’s the right price to tag on their fuels. But in the provinces, the government must step in,” Escudero said.
He said the prices of fuel products in Cagayan de Oro City are overpriced from P5 to P7 a liter compared to the actual prices in Metro Manila.
In the city, average price of regular gasoline per liter is now pegged at P57.60 from P56.90 last week; P57.20 from P56.40 for unleaded gasoline; and P48.15 from P47.80.
Escudero said he recently talked with officials from the Department of Energy (DOE) regarding the overpricing of fuel products not only in Cagayan de Oro but other provinces in the country as well.
“I told them (DOE) that it’s unfair. But I think the DOE is inutile to do something about it because of the Oil Deregulation Law. Not all places in the country, but in most provinces there is overpricing,” he said.
He added that there are some provisions of such law that need amendments.
“I am for amending the Oil Deregulation Law on two points. First, the government has to intervene on the pricing of fuel products by these oil companies; second, is for the government to act on overpricing at the provinces,” he said.
The lawmaker vowed to support any move to amend the law.
Published in the Sun.Star Cagayan de Oro newspaper on October 17, 2012.