With gasoline pump prices up again this week, Senator Win Gatchalian said there is a need for Congress to look into the impact of the ongoing war between Russia and Ukraine on the country’s energy security and affordability.
In filing Senate Resolution No. 78, Gatchalian pointed out that the drastic increase in global oil and coal prices have reverberated across the domestic market with local pump prices experiencing consecutive weekly increases. Gatchalian took note of the 22% increase in gasoline prices to P77.71 per liter in May from P63.58 per liter in January and diesel pump prices soared by 49% to P75.92 per liter in May from P50.95 per liter in January.
During the same period, many PUV drivers opted not to ply their usual routes while provincial buses and taxis were operating only at 20-30 percent capacity which led to severe lack of available public transportation, according to Gatchalian.
“There is a need for Congress to be apprised of the short, medium, and long-term effects and implications of the Russian invasion of Ukraine on the Philippine economy, in particular, the country’s oil supply and the effects of the continuous elevated global oil and coal prices on domestic oil and petroleum products,” the senator said.
Gatchalian, who was the chairman of the Committee on Energy in the 18th Congress, conducted a hearing in March to seek specific solutions and programs of the Department of Energy (DOE) and relevant government agencies to mitigate the impact of the Russia-Ukraine crisis on the country’s oil supply and prices.
“Hindi na kakayanin ng taong bayan ang palagiang pagtaas ng presyo ng produktong petrolyo na naging sanhi din ng pagtaas ng presyo ng mga pangunahing bilihin,” he added.