Maza hits Oil firms, calls their warning of Oil shortage artificial

“Oil companies’ warning of possible shortage is artificial. It appears to be a economic sabotage as those giant oil firms would only want to maintain their super profits while poor Filipinos bear the brunt”.

This is the statement of Rep.Liza Maza today as oil companies warned of possible oil shortage as a result of following the Executive Order No. 839 issued by Malacañang that directed them to bring down prices to their Oct. 15 levels. According to EO 839, freezing oil prices will last while the state of calamity is in effect.

Maza said that Malacañang should right away look into the pronouncement of oil companies. Earlier it was reported that some oil companies have said that they are already canceling their importation of petroleum products.

“EO 839 will never be enough to bring down the price of oil. Once the state of calamity is lifted, what will keep these oil companies from imposing skyrocketing increases? Giant oil firms will again flood us with triple increases week after week,” Maza said.

According to reports, since Arroyo became president, the price of premium gasoline has increased by 147%, while that of unleaded gasoline has jumped by 151 percent. Regular gasoline has increased its price by 150 percent.

“As long the Arroyo administration pays no heed to the call to scrap the Oil Deregulation law and the 12% value-added tax (EVAT) on petroleum products, we will always be at the mercy of the oil companies,” Maza said.

Maza stressed that repealing the Oil Deregulation law serves as the key in solving the unrelenting oil price hikes.

 The Gabriela solon has co-authored HB 1724 or the “Act Repealing the Republic Act No. 8479, otherwise known as the downstream oil deregulation act of 1998”. She has also filed HB 34858 removing the 12% VAT on oil products and HB 3433 to repeal the RVAT. ###