Poe alarmed over rising oil prices

Senator Grace Poe has expressed alarm over the continuous increase in the price of oil in the market, as she urged the government to fully implement relief measures for consumers and act against possible abuses of petroleum companies.

“Halos P20 kada litro na ang inilundag ng mga presyo ng gasolina at diesel sa loob ng halos dalawang taon (The price of gasoline and diesel has jumped by almost P20 per liter in just two years),” Poe said in a statement on Tuesday.

She also lamented that the spike in prices of oil seem to be faster than the speed with which the government could provide relief to the public.

“Nananawagan tayong muli sa Department of Transportation (DOTr) at Department of Social Welfare and Development (DSWD) na paspasan na ang pamimigay ng mga ayuda at benepisyo na nakasaad sa Train Law,” she said.

(We are calling on the DOTr and the DSWD to hasten the provision of aid and benefits to the public as provided for in the Tax Reform for Acceleration and Inclusion (TRAIN) law.)

READ: Higher fuel prices add to burden of consumers

According to Poe, gasoline prices went up by P1 per liter; diesel by P1.35 per liter; and kerosene by P1.10 per liter on Tuesday.

In the last eight weeks, she said gasoline prices has gone up by P4.05 per liter,  diesel by P4.40 per liter, and kerosine by P3.70 per liter.

Meanwhile, liquefied petroleum gas used in households rose between P2 and P2.50 per kilogram on October 1, or P22 to P27.50 per 11-kilogram tank.

READ: Inflation seen rising further in September

“Hard-earned money by our drivers are being held hostage by oil prices instead of being spent for food, the prices of which, by the way, are likewise increasing,” Poe said.

Poe also urged the Department of Energy to make sure that oil firms are not engaged in abusive practices amid the rise in oil prices. /ee