BusinessWorld E-paper
March 03, 2022
PHILIPPINE President Rodrigo R. Duterte on Wednesday urged Congress to review the country’s oil deregulation law in order to give the government the power to intervene in the event of a spike in oil prices.
“We call on Congress to review the oil deregulation law, particularly provisions on unbundling the price, and the inclusion of the minimum inventory requirements in the law, as well as giving the government intervention powers to intervene when there is a spike and/or prolonged increase of prices of oil products,” Cabinet Secretary Karlo Alexei B. Nograles said in a statement.
