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Palace: Price control on oil out of the question


Malacañang now considers a price freeze on oil products out of the question, as it said it would rather concentrate on finding alternative sources of energy. Deputy presidential spokeswoman Abigail Valte said imposing price controls on oil products may backfire as it may cause a shortage of supply. “Ang mahirap kasi if you’re talking about price and price control, ang tendency niyan is to cause shortages at ayaw natin niyan (The problem is that price control can lead to shortages and we don’t want that). We’re looking into alternative options rather than really look at price control as an option," she said on government-run dzRB radio. When asked if that means the Palace now considers price control on oil products out of the question, she said, “Opo, mahirap yan (Yes, it presents many problems)." Consumers have been suffering from weekly fuel price hikes in past weeks, prompting militant groups to call for a cap on fuel prices or to remove the value-added tax (VAT) on fuel. In the meantime, Valte said the government is trying to combine short- and long-term measures to address the problem. She said the government is pushing through with its fuel subsidy for public utility vehicle drivers this May as a short-term measure. For the long run, she said the government continues to look for alternative sources of energy. - KBK, GMA News

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