Palace to oil firms: Stop price hike

Malacañang appealed to oil companies yesterday not to push through with an increase in the prices of gasoline and other petroleum products by as much as 24 centavos per liter in the second week of May.

Presidential chief of staff Renato Corona assured the public yesterday that the Arroyo administration would do its best to prevent any oil price increase at this time.

"We are taking steps to request oil companies not to raise pump prices," Corona said in a radio interview. "Consultation between the government and the oil companies continues."

The other day, the private monitoring group Consumer Oil Price Watch alerted the public on a possible adjustment of pump prices by the oil firms due to the projected increase in the price of crude oil in the world market and the weakening of the peso against the dollar.

Raul Concepcion, head of the group, said local oil firms may pass on to consumers the projected $0.65 increase in crude prices and the depreciation of the peso from 48.52 to 50 against the dollar.

Malacañang pointed out the government conducts regular consultation-dialogues with the oil companies even when there are no looming price adjustments.

"These dialogues are attended by the energy secretary and with representatives of the local oil industry," Corona said.

In a separate interview, Energy Secretary Jose Isidro Camacho assured consumers that there are really no concrete plans yet by the oil firms to raise prices anew.

He noted that the Consumer Oil Price Watch may have issued its warning based on the price movement of crude in the world market.

"As far as the Department if Energy is concerned, we have also been monitoring the price trend but try to avoid any unwarranted speculation," Camacho said.

Senatorial candidate and former Press Secretary Ricardo Puno echoed Malacañang’s appeal to oil firms yesterday.

"I am asking oil companies to take into consideration their social responsibility by putting off their plan to hike fuel prices especially at a time when our people have to cope with rising costs of living triggered by global economic developments," said Puno, who is running under the opposition LDP-Puwersa ng Masa.

He said an oil price increase would only weigh down ordinary Filipinos who have to bear with the ill effects of a weak peso and the rising unemployment rate.

Puno also called on Malacañang to implement steps to stabilize prices of basic commodities and put in place measures that will help the poor cope with rising living costs in the event pump prices are increased. — Marichua Villanueva