Gov’t unlikely to amend Oil Deregulation Law – DOE

The Department of Energy (DOE) stated Monday that amending the Oil Deregulation Law before the conclusion of President Rodrigo Duterte’s term may be challenging due to lawmakers’ attention on the impending elections.

The review of the Oil Deregulation Law is still being debated in both chambers of Congress, according to DOE Undersecretary Gerardo Erquiza Jr., with only months left before the present administration’s term ends.

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“Sa aming estimate ay medyo mahihirapan na, kasi iba ‘yung priorities ngayong eleksyon at pagkatapos ng eleksyon eh siyempre canvassing, then they have to go around of course and maybe thank their constituencies and maybe even take lighter loads,” he said during the Laging Handa virtual briefing.

(Any adjustments will, in our opinion, be difficult to pass because priorities have moved this election season, and after the elections, canvassing, they must, of course, go around and thank their constituencies and possibly carry lighter loads.)

With the consecutive hikes in petroleum product pump prices, Malacanang indicated last month that it is already time for Congress to into the Oil Deregulation Law.

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Gov’t unlikely to amend Oil Deregulation Law – DOE

The energy committee of the House of Representatives has already adopted revisions to the law, which institutionalize the country’s minimum inventory requirement and push for the unbundling of domestic prices.

Domestic pump prices have risen in 13 of the last 16 weeks, according to the DOE, owing to the ongoing war between Russia and Ukraine and the relaxing of COVID-19 limitations in China, which have fueled demand.

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As of April 19, 2022, according to the latest statistics available from the Department of Energy (DOE), revisions will result in a net rise of P15.45 per liter for gasoline, P27.35 per liter for diesel, and P21.55 per liter for kerosene.

Data from the same agency show that prices in Metro Manila range from P64.20 per liter (Quezon City) to P86.75 per liter (Muntinlupa City) for gasoline and P65.25 per liter (Quezon City) to P79.95 per liter (Pasig City) for diesel as of April 21, 2022.

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