The rollback in prices of kerosene and diesel prices hardly made a dent in relieving Filipinos from the economic woes that the COVID-19 pandemic and the unabated in rise of fuel cost have caused.
Magsasaka Partylist Rep. Argel Joseph Cabatbat said that while the decision of oil companies to reduce the price of diesel and kerosene is welcome news, the amount deducted is a “pittance compared to the series of hikes the country has seen this year.” Cabatbat said this is far from enough to ease the burden on consumers, especially on Filipino farmers and fishermen.
Oil companies have announced cuts in prices to be implemented this week. Kerosene prices will be cut by P0.30 per liter while diesel prices by P0.35 per liter.
On the other hand, gasoline is seeing another hefty increase at P1.15/L and LPG is more expensive by around P3/kg.
Cabatbat says that the rollback this week is a pittance compared to the series of hikes the country has seen this year. d.
Data show that as of November 2, gasoline prices have gone up by P21.95/L, diesel by P18.10/L, and kerosene by P15.74. Likewise, LPG prices have gone up steadily throughout 2021.
"We reiterate our call to our colleagues in government to quickly and decisively arrest this agricultural crisis," Cabatbat said. "There are many things we can do to help Filipinos, including giving more subsidies to drivers, speeding up the release of financial aid for farmers and fishermen, and many more.”
The partylist lawmaker also underscored the need to inject more funds to the agriculture sector to sustain existing projects and bankroll new campaigns. He is calling for more subsidy for this sector, especially fertilizer provision.
At the same time, the legislator is calling on a review of the Rice Tariffication Law and other executive orders that allow the importation of agricultural products. Cabatbat is an advocate of the "buy local" philosophy in support of Filipino farmers and fisherfolk.
Previously, he pointed out that oil prices have an indirect effect on the prices of farm inputs. According to data from the Department of Agriculture, 14% or P1.73 goes to animal, machine, fuel and oil for every kilo of rice, before the series of fuel price hikes.
"It's a lose-lose situation for both the provider and consumer of food," Cabatbat said.