Bakit Kelangan na ang Congress Inquiry sa Oil Price Hike?

Bakit Kelangan na ang Congress Inquiry sa Oil Price Hike?

Big time increase on oil price the other day. Nganga na lang ba tayo ha?

Nagtaas na naman ng Oil Price noong Tuesday, May 22

 

Ayon sa Manila Bulletin, tumaas ang presyo ng fuel:

  • Gasoline: P1.60/L
  • Diesel: P1.15/L
  • Kerosene: P1.00/L

Talo ang Pilipinas Kapag Patuloy na Tumaas ang Presyo ng Fuel

 

Kapag patuloy na tumaas ang presyo ng oil sa pandaigdigang merkado, magkakaroon ito ng malaking epekto sa trade and current account balances ng Pilipinas, pati na rin sa inflation.

Ayon sa report na “Higher Oil Prices Drive EM (emerging market) Divergence”, “If the recent oil price rise continues and is more supply-side driven, we would expect it to drive major differentiation in EM performance, hurting large net oil importers with weak economic fundamentals, possibly by more than it benefits large net oil exporters.”

Ayon sa Nomura ng Japan, clear-cut losers ang Turkey, India, at Pilipinas.

Ayon sa assessment ng Pilipinas, “Importing almost all of its oil needs, we estimate a $10 per barrel increase in oil prices could increase the trade deficit by 0.5 percent of GDP (gross domestic product), which would significantly pressure a current account deficit that already reached 0.8 percent of GDP in 2017 due to strong import demand.”

Ganun din, “This would push CPI (consumer price index) inflation even higher above the 2-4 percent inflation target of Bangko Sentral ng Pilipinas (BSP), further supporting our call for 75 basis points of policy rate hikes this year starting in May, and there are risks of more rate hikes should oil price increases persist and second-round effects rise more quickly given the strength of domestic demand.”

House Committee on Energy Hinimok na Magpasimula ng Imbestigasyon tungkol sa Oil Price Hike

 

Nababahala si 1-CARE Party-list Representative Carlos Roman Uybarreta tungkol sa patuloy na pagtaas ng fuel prices simula pa noong Enero.

Ayon sa kanya, “The public deserves a full and transparent explanation of the continuing price hike of fuel despite the freedom of oil companies to set the price as provided for by the Oil Deregulation Law.”

Ayon sa Department of Energy, ang presyo ng diesel ay tumaas ng 4.89 pesos simula noong Enero 2018, samantalang ang gasoline naman ay tumaas ng 4.31 pesos.

Sabi ni Uybarreta, “Should the oil companies fail to justify the continuing price hike of fuel, they should immediately put a stop to these excessive impositions and be made accountable for such acts.”

Nagrereklamo na raw ang mga transport groups, local government officials, at mga negosyo sa patuloy na pagtaas ng presyo ng fuel.

Dagdag pa nya, “Despite these complaints, the DOE and the oil companies basically justify the price hike due to the fluctuations in the global oil market and in the exchange rate of Philippine peso to foreign currency, and the effect of the Tax Reform Acceleration and Inclusion (TRAIN) law.”

Ang tanong: May willpower kaya ang Congress na imbestigahan ang mga oil companies?

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