No timetable set for revocation of fuel price cap
11/09/2009 | 02:30 PM
No timetable has yet been set for the revocation of a presidential order that puts a price cap on fuel prices, officials disclosed on Monday.
Department of Justice (DOJ) Secretary Agnes Devanadera, who belongs to an oil deregulation task force, refused to comment on questions regarding the date for the rescission of Executive Order 839.
The order keeps oil prices in Luzon at October 15 levels.
“Both [the government and oil companies] are still studying the impact of recent cyclones, which was the basis of EO 839," Devanadera said in an interview on dzBB radio, after a meeting with representatives of oil companies.
The meeting held on Monday discussed areas in which the oil industry and the government could work together to address the effects of recent calamities.
Devanadera said her department will relay the oil industry players’ concerns to other government officials at the National Disaster Coordinating Council meeting on Tuesday.
The meeting with representatives of oil firms Monday morning was “very positive," she said.
“I don’t want to comment on the chances of the EO being lifted. What is important is that there was a consensus by government and oil industry players to address the issue)," she said.
Besides Devanadera, those who attended the meeting included Energy Secretary Angelo Reyes, also a member of the joint oil deregulation task force.
Trade Secretary Peter Favila was also in attendance.
Earlier, a report by dzBB’s Manny Vargas said representatives of oil firms reiterated their request to have EO 839 lifted the soonest.
Meanwhile, Devanadera said that the DOJ may hold another meeting with oil firms’ representatives next week.
“We in government will continue to assess and monitor the situation)," she said.
Devanadera also declined to comment on the issue of some gas stations' move to shorten selling time instead of the usual 24-hours.
She said the meeting did not take up whether the oil firms were indeed losing money.
“We talked about moving forward, how we can help each other to help people affected by the cyclones," she said.
She also said Petron Corp. voiced readiness to open its finance books to show that it is indeed losing money.
During the meeting, Petron president Eric Recto said the company could no longer afford to continue selling fuel at October 15 levels, saying it is doing so at a loss, an earlier dzBB report said.
President Arroyo's Executive Order 839 imposes a price ceiling on fuel prices in Luzon, which remains under a state of calamity due to the destruction caused by recent cyclones Ondoy (Ketsana) and Pepeng (Parma).[ See: Palace defends EO 839] - GMANews.TV
Department of Justice (DOJ) Secretary Agnes Devanadera, who belongs to an oil deregulation task force, refused to comment on questions regarding the date for the rescission of Executive Order 839.
The order keeps oil prices in Luzon at October 15 levels.
“Both [the government and oil companies] are still studying the impact of recent cyclones, which was the basis of EO 839," Devanadera said in an interview on dzBB radio, after a meeting with representatives of oil companies.
The meeting held on Monday discussed areas in which the oil industry and the government could work together to address the effects of recent calamities.
Devanadera said her department will relay the oil industry players’ concerns to other government officials at the National Disaster Coordinating Council meeting on Tuesday.
The meeting with representatives of oil firms Monday morning was “very positive," she said.
“I don’t want to comment on the chances of the EO being lifted. What is important is that there was a consensus by government and oil industry players to address the issue)," she said.
Besides Devanadera, those who attended the meeting included Energy Secretary Angelo Reyes, also a member of the joint oil deregulation task force.
Trade Secretary Peter Favila was also in attendance.
Earlier, a report by dzBB’s Manny Vargas said representatives of oil firms reiterated their request to have EO 839 lifted the soonest.
Meanwhile, Devanadera said that the DOJ may hold another meeting with oil firms’ representatives next week.
“We in government will continue to assess and monitor the situation)," she said.
Devanadera also declined to comment on the issue of some gas stations' move to shorten selling time instead of the usual 24-hours.
She said the meeting did not take up whether the oil firms were indeed losing money.
“We talked about moving forward, how we can help each other to help people affected by the cyclones," she said.
She also said Petron Corp. voiced readiness to open its finance books to show that it is indeed losing money.
During the meeting, Petron president Eric Recto said the company could no longer afford to continue selling fuel at October 15 levels, saying it is doing so at a loss, an earlier dzBB report said.
President Arroyo's Executive Order 839 imposes a price ceiling on fuel prices in Luzon, which remains under a state of calamity due to the destruction caused by recent cyclones Ondoy (Ketsana) and Pepeng (Parma).[ See: Palace defends EO 839] - GMANews.TV
