BAYAN MUNA TO DOE: RELEASE LONG OVERDUE MEMO ON UNBUNDLING OF OIL PRICES

Rep. Carlos Isagani Zarate

BAYAN MUNA TO DOE: RELEASE LONG OVERDUE MEMO ON UNBUNDLING OF OIL PRICES

Bayan Muna Chairman Neri Colmenares and Bayan Muna Rep. Carlos Isagani Zarate today called on the Department of Energy (DOE) to release its long overdue memo to unbundle oil prices in the country for us to see once and for all if oil companies are overpricing their products.

“We have received reports that oil companies are pressuring DOE officials not to issue the memo because they do not want the public to know the real score on their pricing mechanism,” said Colmenares.

“Napakahalaga ng memong ito at mga datos na maiibigay nito sa mga consumer lalo pa at nagsimula na namang sumirit ang presyo ng langis,” added Colmenares.

Rep. Zarate meanwhile warned oil companies to finally submit the oil pricing data the House Committee on Energy is requesting since October of 2017 or “we will be constrained to invoke the coercive powers of the Committee, like the subpoena and contempt citations.”

“Mahigit isang taon na ang nirerequest naming datos sa presyuhan ng langis mula sa pag-import nila dito, freight, land transportasyon, additives at lahat ng proseso na nagdadagdag sa presyo ng langis pero wala pa din.The data we requested was long overdue especially since they promised that they would submit it by November 2017.It is already 2019 and still no complete data was given. The data is very important especially now with the implementation of the 2nd tranche of the TRAIN law and the continuous increase in pump prices,” said the progressive solon.

“As it is, the DOE should stop making excuses that they do not know or that they cannot summon the data needed to compute the real price of oil in the country. All the data we need can be summoned by the DOE secretary under Sections 12 and 15 of the Oil Deregulation Law. They should not be bullied by the oil companies because it is the interest of consumers that is at stake,” said the Davao-based solon.

“We are demanding that the DOE do its job to protect the interest of consumers. It should immediately its oil price unbundling memo and we will see if indeed the oil companies have long been fooling the Filipino people,” ended Colmenares.###

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