OIL COMPANIES are now mandated to comply with the minimum and maximum amount that the government would set regarding the adjustments in the price of petroleum products amid the state of national energy emergency, Energy Secretary Sharon Garin said.
At a press briefing on April 20, Garin explained that such a policy was triggered following President Ferdinand “Bongbong” Marcos Jr.’s signing of Executive Order No. 110, which declared the state of national energy emergency.
“Because of that declaration, it triggered the additional powers from government to prescribe the price. Hindi tayo nagka-cap sa presyo mismo, pero kina-cap natin ‘yung adjustments,” she said.
“So under that issuance, DOE is now subscribing the price increase limitation. May limit na tayo, may minimum na tayo sa rollback tapos may maximum din tayo sa price increase. So both ways,” she added.
Several oil companies slashed the prices per liter of diesel by P24.94, and of gasoline by P3.41 yesterday. The price of kerosene was also reduced by P2 per liter.
Garin said that other local oil companies have to follow suit with the price adjustments set by the Department of Energy (DOE).
“‘Pag rollback siya, dapat kung P24.94 ‘yan dapat ‘yung rollback will be equal or more than the P24.94. So pwede siyang maging P25, pwede siyang maging P26, pero hindi siya pwedeng P20 lang. So kailangan sundan ng oil companies,” she said.
She added: “Pero ‘pag increase siya, ‘pag sinabi ng DOE na P10 lang halimbawa ang increase, hindi pwedeng sumobra,” she added.
Marcos earlier urged oil companies to implement the rollback for both diesel and gasoline prices in full and without delay, amid an expected major cut in pump prices. (GMA News)
