Oil deregulation amendment unlikely under Duterte admin: official


Posted at Apr 25 2022 04:05 PM

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Lawmakers may find it difficult to amend the oil deregulation law to tame fuel prices in the last 2 months of President Rodrigo Duterte's term, an official of the Department of Energy said on Monday. 

A House committee in March approved amendments to Republic Act 8479, which removed the government's power to regulate prices. A similar Senate bill is still pending at the committee level. 

"Whether or not matatapos ho natin ngayon ang amendment in this Congress, magko-convene pa ho sila minsan ‘no. Pero sa aming estimate eh medyo mahihirapan na ‘no, kasi iba iyong priorities," DOE Undersecretary Gerardo Erquiza Jr. 

(Whether or not we can finish the amendment this Congress, they will will convene. But in our estimate, it might be difficult because the priorities are different.) 

Lawmakers will be busy with the May 9 polls, canvassing of votes, and the post-election transition period, he said in a public briefing. 

"Realistically speaking, hindi rin natin hawak ang panahon dahil iba ho ang activities na ngayon ng ating mga legislators," added the official. 

(We don't have time because the activities of our legislators have changed.) 

Petroleum product prices are projected to increase by at least P3 on Tuesday.