First district Rep. Edgar Chatto files a bill seeking to amend the oil deregulation law in order to ensure fair pricing and quality of petroleum products.
This was the revelation of Chatto in a radio interview on Wednesday, Feb. 24, 2021, over ‘Newsmakers ug Uban Pa’ radio program.
He said that he filed the bill to put in place the mechanism for accountability and transparency in the determination of fuel prices and also to ensure the quality standards of fuel products comply with environmental and international standards.
The current law, Republic Act No. 8479 or the Oil Deregulation Law is silent on providing transparency in the determination of fuel prices, the solon said in the interview.
He said that the disparity in the prices of fuel may affect the stability of the. economy.
The issue is on fuel prices being higher in Tagbilaran compared to other places in the province.
The solon said that currently, the fuel companies are the ones that set the fuel prices and there is a need to correct this practice.
In relation to the question of quality standards of fuel, the bill seeks a mechanism that will ensure that fossil fuels comply with environmental and international standards to lower the carbon emissions.
Carbon emissions is one of the main reasons for global warming, the solon reiterated.