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Bacolod City, PhilippinesThursday, March 29, 2012
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Long term solution
backed for oil price hikes

QUEZON CITY – The Department of Energy has laid various plans and long term programs to mitigate the effects of the continuing oil price hike, an official from the Oil Industry Management Bureau, Director Zenaida Monsada, said in a press release.

“Most of the solutions are not instant,” Monsada said, pointing that the mandate of the DOE is to ensure adequate and continuous supply of energy.

While the DOE has no control on the price of oil and other petroleum products under deregulation law, it monitors price movement in the international oil market, Monsada said.

The DOE was also able to delay fare hike increases for a year through its Pantawid Pasada Program, by providing cash assistance loaded into fuel cash cards for the gasoline expenses of jeepney and tricycle drivers, the press release said. Although it was criticized by some members of the transport groups, still, others were thankful for it, Monsada said.

Monsada also said the DOE and the Department of Transportation and Communication are pushing the program on alternative fuel that taps the agriculture sector to produce ethanol that will serve as an additive to petroleum products.

This can help diminish dependency in oil, she said.

The government is also pushing for electronic vehicle such as the E-Jeepney and E-Trike to lessen air pollution and demand for petroleum products, Monsada said, in the OIMB press release.*


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