IOPRC delay justifies inaction on deregulation repeal, benefits oil companies -Ilagan

Amid the recent spate of oil price increases, Gabriela Women’s Party Representative Luz Ilagan called on the Independent Oil Price Review Committee to immediately submit its much delayed report on allegations of overpricing by big oil companies as she pushed anew for the repeal of the Oil Deregulation Law.

“Mahirap talagang i-retoke ang katotohanan. Why is it taking the IOPRC too long to release its report? Every day of delay is an Aquino-abetted opportunity for oil companies to further prey on consumers with their incessant and unjustified overpriced increases,” said Ilagan.

Ilagan further said consumers are growing impatient with the Aquino government’s inaction on oil price increases. “The review, which is but a cosmetic first step will not even bring oil prices down or make oil companies accountable for their immoderate greed. How many more years will poor consumers endure before relief is given?”

The Gabriela solon fears the review is now being made an excuse to delay action on legislative proposals to repeal the Oil Deregulation Law and to remove the Value Added Tax on petroleum products. “We must realize that regulation is necessary to protect consumers from overpricing while a policy to nationalize the oil industry will lead to a strengthened, sustainable development and management of the country’s energy resources.”

Increases in oil prices for July and August have totaled to around P6 for diesel and P7.50 for gasoline. Over the weekend, Liquefied Petroleum Gas increased by as much as P6-7.50 per kilo translating to an increase of as much as P85 per 11-kg tank.#