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Manila Bulletin devider Philippines devider Bautista says gov't fuel subsidy not enough; insists Petron buy back will fix oil price hikes

Bautista says gov't fuel subsidy not enough; insists Petron buy back will fix oil price hikes

Published Mar 17, 2022 01:09 pm

The government’s fuel subsidies to public transport drivers and operators, while needed, is not enough.

That is why the government should start thinking of long-term solutions to address the country’s woes on fuel price increases, senatorial candidate Herbert “Bistek” Bautista on Thursday.

“Well, it’s right...The government is giving aid for the transport sector, to jeepney drivers and operators,” Bautista said in an interview with POLITIKO.PH.

“But all these are just temporary solutions, aren’t they?” said Bautista, who is running for senator under the UniTeam Alliance of former senator Ferdinand “Bongbong” Marcos, Jr. and Davao City Mayor Sara Duterte.

The former Quezon City mayor said he still believes that the most feasible solution to cushion the impact of oil price hikes is for government to buy back Petron Corp.

“So what I see in the long term is an agreement for the government to buy back Petron gas stations nationwide,” Bautista said.

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“Those used to be owned by the government in the past so that when oil prices spike worldwide, and the private sector like Shell, Phoenix, etc. also raise prices, the government or stations owned by the government can peg lower prices,” he explained.

Bautista said government buying back Petron Corp. would help temper petroleum prices in the country.

“For example, if the private sector sells for 80 pesos, the government can sell for 50 pesos. It would serve as a subsidy for the transport sector, consumers and service deliveries. They will buy from us,” he said.

“I think that’s one of the long-term solutions that we, the national government, can do. And this would require an act of Congress which I would surely support if I become a senator,” Bautista stressed.

Related Tags

Petron Corporation Herbert Bautista Oil price hike fuel subsidy program
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