Palace working to have more gas stations giving discounts

President Arroyo is asking oil companies to give the public more gas stations offering discounts in the wake of the rising oil prices, Energy Secretary Vicente Perez Jr. said yesterday.

Perez said he and Mrs. Arroyo has been talking to the presidents of oil companies so that the 250 gasoline stations nationwide that have been giving diesel discounts can be increased to 500 stations.

Perez was in Malacañang for the turnover of the tripartite agreement for a joint seismic undertaking in the agreement area in the South China Sea and the awarding ceremonies for the outstanding electric cooperatives.

"We are trying to stop the increase in the prices of petroleum, but there had been an all time high in Dubai and the world market. We are also buying time. if the prices go down, then the oil companies would have no more reason to increase prices. We just have to wait and see first," Perez told reporters.

"Our point is, we are seeking for a wider coverage of the discounts, from 250 to 500 (gasoline stations), within the month," he said.

The President also earlier asked employers to help in the transportation expenses of their employees to help them cope with the oil price and eventual transport fare increases.

Mrs. Arroyo said the government could also grant tax incentives to companies providing transportation allowance to their personnel.

As of Friday, regional prices for Dubai crude, which is used by major oil firms in settling prices, reached $44.13 a barrel, up by almost $5 compared with the February average of $39.87.

Regional prices of unleaded gasoline based on the Mean of Platts Singapore (MOPS) also increased to $59.11 a barrel from an average of $54.27 a month ago while the price of MOPS-based diesel soared to $65.73 a barrel from only $55.63 in February.

Oil companies have warned of an increase in prices of petroleum and fuel products by 50 centavos every week to cover the rise in prices in the world market. The increases had been implemented for two consecutive weeks now.

The President also supported the initiative taken by Perez for a review of Republic Act 8479, or the Oil Deregulation Law of 1998 preparatory to possible moves to amend it.

Various sectors called for a review of the seven-year-old law, saying it fails to protect consumers from the continuing oil price hikes.

Press Secretary Ignacio Bunye reiterated his call for the public to conserve energy to help reduce the demand for refined oil products like gasoline, diesel and other fuels.