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Operator and driver members of Piston hold a protest action at a gasoline station in Quezon City on October 15, 2024, protesting against the latest round of oil price hikes imposed by oil companies. Maria Tan, ABS-CBN News

Article (news)

Drivers protest vs. oil deregulation law

Andrea Taguines

ABS-CBN News

<p>MANILA -- Transport group PISTON protested anew on Tuesday to call for the junking of the Oil Deregulation Law.</p><p>PISTON National President Mody Floranda said this is the only way to achieve a significant oil price rollback, saying the recent reduction implemented by oil companies is too small compared to how much they have hiked prices over the last few months.</p><div><a href="https://news.abs-cbn.com/business/2024/11/18/oil-prices-fall-on-tuesday-after-series-of-hikes-906" rel="noopener noreferrer" target="_blank">Oil prices fall on Nov. 19 after series of hikes</a></div><p>On Tuesday morning, diesel prices decreased by P0.75/liter, gasoline prices decreased by P0.85/liter, and kerosene prices saw a P0.90/liter markdown.</p><p>“Pag tinignan natin mula nung September 12 hanggang November 12, halos two months, ang itinaas nila (sa diesel) ay halos nasa P8. Almost P217 kada araw yung direct na nawawalang kita ng mga driver,” said Floranda.</p><p>Floranda pointed out that since oil companies stock up on supply, prices should not be too easily impacted by global oil movements.</p><p>“Mismong sinasabi ng Department of Energy na tayo ay merong 45 days of supply ng krudo dito sa ating bansa. Ibig sabihin nyan, kahit na gumalaw, halimbawa, ang presyo sa international market, dapat ubusin muna nila yung suplay na narito,&quot; Floranda said.</p><div><span class="fr-video fr-deletable fr-fvc fr-dvb fr-draggable" contenteditable="false" draggable="true"><iframe width="640" height="360" src="https://www.youtube.com/embed/eDz9hWRPRp4?&amp;wmode=opaque&amp;rel=0" frameBorder="0" allowfullscreen="" class="fr-draggable"></iframe></span><br/></div><p>(The Department of Energy itself said we have 45 days&#x27; supply of crude in the country. This means that even if global prices change, like for example the change in the international market, we must fully consume our supply here first.)</p><p>&quot;Ang nangyayari sa atin, pag nagkaroon ng girian ang ibang mga bansa, automatic tumataas dito sa atin na hindi nauubos yung suplay na nabili na sa mas mababang halaga kaya tayo yung tinatamaan,” he said.</p><p>“Talagang sini-seesaw, pinaglalaruan ng mga kumpanya ng langis dahil sa patuloy na pag-iral ng mga polisiya sa ilalim ng Oil Deregulation Law, excise tax at TRAIN Law,” added Floranda.</p><p>(What&#x27;s happening here is, while tensions brew in other countries, prices automatically go up here, even though we haven&#x27;t run out of supply we bought at a lower price. Companies really seesaw and play with oil prices under the Oil Deregulation Law, excise tax, and TRAIN Law.)</p><div><strong>ANTI-JEEPNEY PHASEOUT</strong></div><p>PISTON also announced that it will hold a protest outside the Land Transportation Franchising and Regulatory Board (LTFRB) on November 29, the deadline for the reopened franchise consolidation applications as part of the government’s Public Transport Modernization Program.</p><p>But Floranda said they will not hold a transport strike.</p><p>“Hindi namin kailangan ng extension ng consolidation. Ang kailangan namin ay payagan kami na makapagrenew, payagan kami na makapagrehistro, payagan na ibalik sa limang taon ulit yung prangkisa,” he said.</p><p>(We don&#x27;t need an extension of the consolidation. We need to be allowed to renew our franchises, allowed to register, and make our franchises valid for 5 years again.)</p>

Transport group again calls to scrap Oil Deregulation Law

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Transport group again calls to scrap Oil Deregulation Law

Andrea Taguines,

ABS-CBN News

Published November 19, 2024 02:33 PM PHT

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