INSISTING that the government must seriously prepare for the worse scenario amid the ongoing tension between Ukraine and Russia, senators said it is high time that we consider several options and measures to handle the situation accordingly.

Senator Richard J. Gordon urged Filipinos to resort to fuel-saving measures considering the recent spikes in oil prices.

Gordon, a reelectionist lawmaker, said that the government must also find ways to set aside a stock of oil and gas as the Philippines is competing with other countries to get their supply.

Over the past 10 weeks, the world had faced a rise in fuel prices due to the simmering tension and subsequent invasion of Ukraine by Russia causing the rise in the cost of electricity, travel, and goods, since they all use fuel to operate.

There is also a move by the public transportation sector to increase the minimum fare, directly due to the alarming increase in fuel costs. Oil price companies recently increased prices in an unprecedented manner for diesel, gasoline, and kerosene.

Gordon said that the government should help the most vulnerable citizens by alleviating their suffering from exorbitant prices through an Oil Stabilization Fund.

He also suggested that people find additional sources of income to help offset the losses caused by the oil price hike.

To help save on fuel consumption, Gordon urged families to carpool, invest in renewable energy sources at home, and for farmers to consolidate the delivery of their produce to the market.

Gordon suggested a cooperative arrangement for farmers to share in expenses by hiring 1 truck to carry all their products to the market instead of individually hiring a truck.

Senator Sherwin Gatchalian for his part urged the Department of Energy (DOE) to intensify its monitoring activities against profiteers taking advantage of consumers by imposing exorbitant pump prices of fuel products amid the escalation of the cost of fuels in the world and domestic markets.

The Senate Energy Committee Chairperson made the call as the price of diesel is expected to jack up this week by as much as P11.80 to P12 per liter, gasoline by P6.90 to P7.20 per liter, and kerosene by P9.70 to P9.80 per liter.

Considering that oil refiners are required to have reserves that can last for 30 days, Gatchalian said these old inventories should be sold to the public at the old price, lessening the impact of the series of oil price increases on the acquisition of new stock.

“I’m proposing to increase the 30-day minimum oil inventory to 45 days, that’s an extra 15 days of a buffer. The government should subsidize the carrying cost because when these companies buy another 15 days, they have to pay for interest. And that’s where the government comes in terms of energy security,” he explained.

Gatchalian also called on the DOE to exercise its mandate insofar as going after those engaged in profiteering activities by moving for the investigation and eventual prosecution of abusive retailers as well as revocation of licenses if warranted.

Senator Risa Hontiveros meanwhile said that the fuel aid to be distributed under the “Pantawid Pasada Program” will not be enough to keep the transport system running noting that the price hike in petroleum prices is seen to affect the sector for a prolonged period.

“The increase in the budget for Pantawid Pasada to cover more drivers is a step in the right direction, but it really does not go far enough. P6,500 will help make ends meet for drivers only for a little over a month, but this international energy crisis looks like it will last far longer than just a month. What will happen after a month?”.

“Dahil hindi sapat ang ayuda, mapipilitang mag-‘tigil pasada’ ang mga tsuper. Malulugi lang sila sa pagod ng maghapong pasada kung kakainin ng pang-gasolina ang kita at halos wala nang maiuuwi sa pamilya. Hindi ito dapat mangyari,” she said.

The lady senator made the statement after DOE announced that it will double its budget for the program to P5 billion from the initial P2.5 billion to cushion the soaring fuel prices.

She observed that the government is just trying to run twice as fast just so the transport sector can stay in the same place when what we need to do is to run faster and to shift to a new direction.

The big necessary step, according to Hontiveros, is an expanded service contracting program that will not just run for a month or two, but years. Service contracting, she said, will ensure that drivers and operators get their due in exchange for reliable and affordable services for the riding public – even if the government does not grant them a large enough fare adjustment in the face of these extraordinary fuel prices.

Hontiveros also emphasized that should the excise tax on fuels not be removed, its revenues should immediately be earmarked to improve the public transport system, beginning with the service contracting program.

She furthered that the oil price stabilization fund will no longer need to be revived, since the service contracting mechanism, in tandem with fare adjustments, can be made bigger when fuel costs are high and smaller when fuel is more affordable. By Camille P. Balagtas-Sarmiento