DOE: Petroleum Deregulation Act Changes Unlikely

Amendments to Republic Act (RA) 8479 or the Petroleum Deregulation Act are unlikely to pass in the current Congress, the Department of Energy (DOE) said.

Energy consumptionc. Gerardo Erguiza said in a TV interview on Monday that most lawmakers are now preoccupied with the May 9 national and local elections, which makes it difficult for the amendments to pass.

Erguiza said the Petroleum Deregulation Act is still being considered in both houses of Congress, even though the Duterte administration is still two months away. He added that the solicitation of votes would immediately follow the election and that lawmakers would move “to thank their voters”.

Congress will sit as the National Council of Canvassers for presidential and vice-presidential votes.

The DOE has called for the Petroleum Deregulation Act to be amended to reduce local pump prices as the conflict between Russia and Ukraine persists. The Senate had expressed support for the revision of the law, while the House Energy Committee approved a bill amending it.

Congress is currently on an election break until May 22. They resume sessions on May 23, and the 18th Congress will officially adjourn on June 4.

Deputy House Minority Leader and Representative for Bayan Muna Carlos Isagani Zarate said in a BusinessWorld report that the Duterte administration can certify the amendment bill as an urgent measure if it is serious about doing so. pressure for amendments and whether there is a “political will” to do so. .

Under the Petroleum Deregulation Act, local pump prices are assessed based on world oil prices – which are currently at $100 a barrel starting Thursday Manila time. Local fuel prices rose by as much as Php4.10 per liter on Tuesday.