Manila Bulletin
Gibo joins calls for 'unbundling' of fuel prices
Senatorial candidate Gilbert "Gibo" Teodoro supports the Department of Energy's (DOE) proposal to unbundle oil prices, advocating for transparency in pump price adjustments to ensure reasonableness.
He believes oil companies should itemize fuel price components, ensuring the private sector shares the burden of rising costs instead of solely passing them to consumers.
Teodoro emphasized that price unbundling will be significant, especially if the government allows the reduction or suspension of fuel excise tax, to ensure adjustments are reflected in retail prices.
Since the start of 2022, gasoline prices have increased by P13.25 per liter, diesel by P17.50 per liter, and kerosene by P14.40 per liter.
On March 8 alone, pump prices increased by P3.60 per liter for gasoline, P5.85 per liter for diesel, and P4.10 per liter for kerosene, with further hikes expected due to the Russia-Ukraine war.
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