Pampanga Times

Mikey Arroyo on the 75 and 50-centavo price reduction for Gasoline and Diesel

I don’t agree with the 75-centavo and 50-centavo price reduction for gasoline and diesel. I don’t think its enough, especially in the light of the NEDA study showing that pump prices of fuel should go down by 6-8 pesos per liter. As chairman of the house energy committee, I call on the oil companies to implement a full rollback, especially now that we are under a state of calamity and our people are still reeling from the devastation caused by Ondoy and Pepeng. It should reflect the true price, not the pittance that they reduce in pump prices. It’s almost an insult to our intelligence,and unmindful of the suffering of many Filipinos.

Of course the oil companies, particularly the Big Three, continue to refute the NEDA study, but since they also block efforts to have their books audited by the pertinent government agencies, this issue of alleged overpricing cannot be settled with finality. And while we welcome the decision of the oil companies to defer the raising of LPG prices by a month to help the situation of our suffering countrymen, i must reiterate that their prices should reflect the true price of their product.

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