Soaring gas prices put brakes on jeepney drivers

What does the government really do to help jeepney drivers affected by skyrocketing gas prices? As fuel prices continue to surge, calls to abolish Republic Act 8479 or the Oil Deregulation Law have gained momentum.

- By Brix Lelis

This law liberalizes and deregulates the downstream oil industry to ensure a "truly competitive market under a regime of fair prices, adequate and continuous supply of environmentally clean and high-quality petroleum products."

"In the past, when prices were controlled, the government would absorb any increases. If prices decreased, it was fine, but when they went up, the government was there to cover the rise," DOE-Oil Industry Management Bureau director Rino Abad explained.

But critics argue that the law has only exposed the country to the volatility of global oil prices and has since granted oil firms the freedom to hike prices without significant government oversight.

Supporters of oil deregulation say it de-politicizes oil pricing and stabilizes supply.

Transport group PISTON claimed that the Oil Deregulation Law "failed to deliver its original promise to lower fuel prices through an unrestricted trade."

"The government's role should not be limited to merely announcing when companies will increase or decrease prices," PISTON national president Mody Floranda said.

He said the government should be more proactive in regulating domestic pump prices.