Friday, October 31, 2008 Gov’t sees fare, oil rollback: Palace aide
MALACANANG is hoping that the prices of liquefied petroleum gas (LPG) and transport fares would be rolled back soon following the P5 to P6 cut in gasoline and diesel prices, Deputy Presidential spokesperson Lorelei Fajardo said.
Fajardo said Malacañang is pleased and glad that the oil companies have responded to appeals of different sectors for a reduction in pump prices.
"This will bring relief to the consumers and possibly help reduce prices of selected commodities," she added.
According to her, the Palace will continue to hold discussions with oil firms to further reduce prices.
"Oil is at a very low US$60 per barrel and Malacañang is working to ensure that there will also be a significant reduction in the prices of major commodities and services," she said.
The Department of Trade and Industry (DTI) is also continuously monitoring the prices of commodities in the market.
She said they are also hoping that LPG prices "would also follow" but they are leaving it to the oil companies to determine.
Malacañang is likewise expecting that fares would soon go down after Pinag-Isang Samahan ng mga Tsuper at Opereytor Nationwide expressed openness to reduce the minimum fare.
Piston is set to meet with the Land Transportation Franchising and Regulatory Board (LTFRB) next week to discuss a possible reduction in fare and to determine how much rollback could be accommodated, said Fajardo. (JMR/Sunnex)
