THE Federation of Land Transportation of Zamboanga (Feltranz) is calling on the incoming administration of President Ferdinand Marcos Jr. to abolish the oil price deregulation law.
Edwin Mingala, Feltranz president, said Tuesday, June 21, that the prices of fuel soared since the passage of Republic Act (RA) 8479, otherwise known as the Downstream Oil Industry Deregulation Act of 1998.
Mingala noted that the prices of gasoline and diesel were pegged at P20 and P15, respectively, but these have tripled over the years when RA 8479 was enacted into law.
RA 8479 removed government control on the pricing, exportation, and importation of petroleum products, allowing market forces to dictate oil prices.
The price of gasoline is almost P90 per liter while that diesel is more than P90 a liter.
Meanwhile, Mingala said they will ask the Land Transportation Franchising and Regulatory Board to grant fare hike so that the drivers will be able to cope with the continued increase of fuel prices.
The Feltranz comprises of 48 associations of jeepney operators and drivers based in Zamboanga City. (SunStar Zamboanga)