ACT-CIS Partylist solons file bill to repeal oil deregulation law
HOUSE Deputy Majority Leader Erwin T. Tulfo and his colleagues at the ACT-CIS partylist and other lawmakers filed a bill today (Aug. 15) to repeal the “Republic Act no. 8479 or the Downstream Oil Industry Deregulation Act of 1997” otherwise known as the Oil Deregulation Law to address the continuous increase in fuel prices.
In a four-page House Bill No. 8898 signed by Tulfo, and his colleagues from the ACT-CIS partylist Reps. Edvic Yap and Jocelyn Tulfo, and another lawmaker Benguet Rep. Eric Yap, they introduced an “Act Establishing the Budget ng Bayan Para sa Murang Petrolyo” (BBMP), repealing for the purpose Oil Deregulation Law. BBMP is patterned in the Oil Price Stabilization fund during the 70s.
In his privilege speech before the House of Representatives last Monday, Rep. Erwin Tulfo assailed the existing law as useless.
“Nalinlang po ang taumbayan o naonse sa pagpasa ng batas na ito dahil paniwala tayo noon na magpapababaan ng presyo ang mga kumpanya ng langis kapag hindi na raw hawak o kontrolado ng gobyerno ang pagpapresyo sa produkto ng petrolyo,” Tulfo averred.
“Isa po itong kahibangan dahil sa halip na magpababaan ng presyo ngayon, naguusap-usap po ang malalaking kumpanya ng langis kung gaano kalaki at magkano ang itataas nila Linggo-Linggo,” he added.
In the explanatory note of the House Bill, the lawmakers said, the existing Oil Deregulation Law was designed to promote competition, transparency, and affordability within the local oil market.
“However, the complexity of global oil dynamics, the vulnerability of consumers to price fluctuations, and the necessity of ensuring energy security warrant a critical review of the current regulatory framework,” the Bill stated.
Tulfo said, the bill seeks to repeal the Oil Deregulation Law to reestablish government price control of fuel pump prices and address the negative impact of frequent and abrupt fuel price changes on consumers.
In addition, this proposed measures also aims to establish the BBMP (Budget ng Bayan para sa Murang Petrolyo), administered by the Office of the President, in order to help maintain and stabilize oil prices whenever feasible, at prevailing reasonable retail or pump price level.
“By restoring government oversight, the bill seeks to protect ordinary Filipinos’ interests through addressing concerns on transparency and anti-competitiveness practices by fostering a fair market environment through government control,” the bill also said.
“The proposed repeal emphasizes robust consumer protection measures and regulatory oversight to intervene in case of unjustified price hikes,” it added.
