To solve fuel price disparity?: DOE to loan out P10M fund for putting up gas stations

BACOLOD CITY, Philippines — About P10 million will be loaned out to anybody who is interested to put up gasoline stations in this city and anywhere in Negros Occidental province.

Third district Rep. Alfredo Abelardo “Albee” Benitez said the Department of Energy will finance any non-government organizations (NGOs), individuals, cooperatives, and local government units if they will establish gas stations in the city and the province, “to address the oil price disparity here.”

Benitez made this announcement after his recent meeting with Energy Secretary Carlos Jericho Petilla. He said there is stiff competition in the city, thus the high prices of fuel in this part of the country.

“If there is stiff competition, it will drive the prices down. That is the concept of free enterprise. At this point, we’re not in that level,” Benitez said, adding that Petilla is now encouraging investors to put up more gas stations in the city and in Negros Occidental. (FREEMAN)