FORMER Bayan Muna Rep. Carlos Zarate today slammed the latest round of oil price increases, which will see fuel prices surge by up to P1.90 per liter next week, calling it another heavy burden on Filipino consumers already struggling with high costs of basic goods and services.
“This continuing oil price spiral is unacceptable and will further push our people deeper into economic hardship. While oil companies continue to rake in massive profits, ordinary Filipinos bear the brunt of these repeated price hikes that affect not just transportation but all basic commodities,” Zarate said.
The progressive lawmaker urged Congress, particularly its supposed Quinta committee, to immediately tackle pending economic measures that could provide relief to consumers, including the “Lower Oil Prices Bills Package” previously filed by Bayan Muna.
The lower oil prices bills package” are as folllows:
*House Bill 400 or Lower Oil Price Bill which would junk the excise tax and VAT on oil;
*House Bill 3003 or the renationalize Petron bill;
*House Bill 3004 or the unbundling oil prices bill
*House Bill 3005 or the centralized procurement of petroleum bill;
* House Bill 3006 to regulate the downstream oil industry,” he said
These bills were first filed by Bayan Muna in the previous Congresses and hopes that now they will finally be enacted to stop runaway oil prices
“There are concrete solutions already filed in Congress that could address this crisis. House Bill 3004 or the Oil Price Unbundling bill, for instance, would finally shed light on how oil companies determine their prices and profit margins. For over 25 years under deregulation, consumers have been kept in the dark about the true cost of fuel,” Zarate emphasized.
“We challenge the House leadership to prioritize these measures, especially HB 3004, along with other bills that would regulate the downstream oil industry and remove burdensome taxes on petroleum products. Every peso counts for ordinary Filipinos who are already struggling to make ends meet,” he added.
Zarate also called on the Department of Energy to actively support these legislative measures and recommend their urgent certification to the President, stressing that transparency in oil pricing is crucial in protecting consumer welfare.
“The government cannot remain passive while oil companies continue their predatory pricing practices. We need immediate action on these measures to provide genuine relief to our people,” Zarate concluded.
