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A leader of the House of Representatives said Congress should review the unbundling of the oil prices and the inclusion of the minimum inventory requirements provision to the Oil Deregulation Law amid skyrocketing oil prices. House Committee on Economic Affairs chair Rep. Sharon Garin said the country experienced an average increase of P5-5.85 per liter […]
Camarines Sur Representative LRay Villafuerte has said the global oil price spiral triggered by the Ukraine-Russia conflict should rouse the Department of Energy (DOE) to “put its money where its mouth is” and finally set the national strategic petroleum reserve (SPR) plan in motion instead of just endlessly talking about it. With oil prices now […]
Camarines Sur Rep. LRay Villafuerte has exhorted the government to accelerate plans to set up its own oil stockpile reserves to ensure stable supply and prices of petroleum products, more so now when the vaccine-driven economic recovery in the United States and Europe has started to ease travel restrictions and increase demand anew for fuel. […]