Fisherfolk Urge Oil Firms Over Price Manipulation
MANILA, Philippines — The fisherfolk group Pambansang Lakas ng Kilusang Mamamalakaya ng Pilipinas (Pamalakaya) has called on oil companies not to exploit the Middle East conflict by manipulating oil prices in the Philippines. The group emphasized the need for fairness amid rising tensions abroad that affect local fuel costs.
Just this week, Jetti Petroleum’s president announced a P5.20 per liter increase in petroleum products and a P3.50 hike for gasoline. This fuel price hike has sparked concerns among various sectors, especially Pamalakaya, who warned about the burden this places on Filipino consumers and fisherfolk.
Calls for Review of Oil Deregulation Law
In response, Pamalakaya urged the government to reconsider the 1998 Downstream Oil Industry Deregulation Act—known as the Oil Deregulation Law—which currently allows market forces to set fuel prices. The group argues that this law enables oil companies to overcharge consumers, using unrest in the Middle East as justification.
“This law has been empowering oil companies to overprice and manipulate the local pump prices at the expense of consumers,” said Pamalakaya Chairperson Fernando Hicap. He further stressed the urgency of reviewing the law to stop deceptive pricing tactics by large oil cartels.
“The government should regain control over the downstream oil industry, which includes refining and distributing oil within the local market,” Hicap added, highlighting the need for stronger regulation to protect Filipino consumers.
Impact on Fisherfolk Livelihoods
The fisherfolk group pointed out that the recent fuel price hike worsens the challenges faced by those in the fishing industry, especially as their livelihoods are already threatened by bad weather conditions. Fuel costs make up nearly 80 percent of total fishing production expenses.
“Due to the relentless surge in oil prices, the majority of our fishing expenses continue to go toward fuel,” Hicap explained. He also noted that income has significantly dropped, particularly during the southwest monsoon season when fishermen can hardly go out to sea.
This growing financial strain on fisherfolk calls for immediate action to protect their income and support sustainable fishing practices amid fluctuating fuel prices.
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