Mindanao Oil Prices Remain Low vs. Visayas, Luzon

Mindanao Oil Prices Remain Low vs. Visayas, Luzon

- in Economy, News
Mindanao low oil price

OCTOBER 2, 2017 – The House committee on energy conducted an investigation on the disparity of fuel prices in Mindanao and Luzon.

Committee chairman Lord Allan Jay Velasco (Lone District, Marinduque) and Bayan Muna Party List Rep. Carlos Isagani Zarate, author of House Resolution No. 415 calling for the investigation of fuel pricing in Mindanao, said in the hearing that gasoline prices in region have fallen by as much as P30 per liter since September.

Meanwhile, Rep. Mark Go (Lone District, Baguio City), author of House Resolution No. 853 calling for the investigation in North Luzon, said the average gasoline price in the region is P44 per liter but in contrast, gasoline prices in Baguio City is higher by as much as P5 to P13 per liter since November 2016. 

As of February 8 this year, Go said oil prices in Baguio still remains at P53.80 per liter compared to the pump price of P42.10 per liter in Rosario, La Union which is approximately 30 to 40 kilometers away from the fuel source in Poro Point in San Fernando, La Union.

“I hope that this committee investigation will shed light on the situation as to the real formula in computing and determining fuel pump prices, particularly in Northern Luzon,”

– Rep. Mark Go

Zarate observed that while oil prices in Luzon and Visayas are tracking the development in the world market, prices in Mindanao remains low.

“Not that we do not welcome [low] prices of oil in Mindanao, mas mura, mas mabuti. Pero parang may nakikita tayong something wrong. If the oil distribution companies or the gasoline stations in Mindanao can keep their prices low, why not in Luzon and Visayas?”

– Carlos Isagani Zarate

The hearing will resume on October 10, 2017

Source: Office of the Speaker/Press and Public Affairs Bureau

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