MANILA -- Malacañang on Monday assured that government has put in place measures to “neutralize” the negative effects of impending oil price hikes in the country.
“Ginagawa ng pamahalaan ang mga measures upang ma-neutralize natin ang masamang epekto nito (The government is implementing measures to neutralize its negative effects),” Presidential Spokesperson Salvador Panelo said in an interview with Radyo Pilipinas.
Panelo explained that the rise in fuel prices is temporary due to oil price fluctuations in the world crude market.
“Iyon namang presyo ng gasolina eh hindi ba aakyat, bababa, so sanay na tayo doon, hindi naman tayo naapektuhan nung matagalan (The price of gasoline goes up then down so we’re used to it and we’re not affected for long-term),” Panelo said.
“Dahil short lang naman iyong nangyayari, lagi namang meron tayong mga kalakaran na bumabalik sa dating presyo (Because what’s happening is short-term, the high prices return to their previous prices),” he added.
In an advisory, an oil firm announced that it will be hiking the prices of its gasoline products on Tuesday (March 19) by PHP1.45 per liter and its diesel products by PHP0.30 per liter.
Earlier, oil industry insiders said that it is necessary to implement weekly oil price adjustments to reflect "real-time up and down changes in the world crude market". (PNA)
