Fuel price difference down to P3 per liter-A A +A
Friday, February 21, 2014
NEGROS Occidental Third District Rep. Alfredo Benitez said Thursday that the price difference of fuel prices in Negros and those in other provinces has lowered to P3 per liter.
In the past year, it has been reported that the disparity went as high as P8 to P10.
Benitez said that Energy Secretary Jericho Petilla told him that more gasoline stations have been put up in the province, including independent oil company Phoenix Petroleum Philippines Inc., which resulted to more competition among the gasoline stations.
Benitez said Petilla also revealed the Department of Energy's plan to set up a system to inform the motorists either through text, internet and publications which gasoline station has the cheapest prices so that motorists would patronize the said gasoline station and drum up more competition.
"It is the competition that is supposed to be present and the oil industry is properly monitored by the public sector," Benitez said.
The determination of the lowest priced gasoline stations would be done through the price monitoring watchdog that would be institutionalized under the DOE.
Benitez said with the additional budget of P300 Million, the DOE will hire personnel and equipment to conduct the monitoring of the gasoline stations all over the country to address problems in the industry like the fuel price disparity.
Published in the Sun.Star Bacolod newspaper on February 21, 2014.