Drilon supports PGMA's price freeze on petroleum products

October 27, 2009 10:44 pm 

Manila, October 28 —- Malacanang has found a supporter of Eexecutive Order (EO) 839 from the opposition after former Senate President Franklin Drilon backed the order of President Gloria Macapagal-Arroyo for oil price freeze.

Drilon stressed the President has the power to issue such an order particularly during the state of calamity or state of emergency against profiteering of some businessmen.

”Even I am on the side of the opposition group, I support President Arroyo’s executive order. The President has the power to issue such an order freezing the oil price, and it is in accordance with the law especially during times of calamity. The government can impose price freeze particularly on basic commodities like oil,” Drilon added.

The former Senate chief also said oil companies could face charges if they will be proven conspiring with one another to manipulate the price of oil products.

President Arroyo issued Executive Order 839 ordering the oil companies to freeze the price of their oil products based on the price on October 15 which before the onslaught of typhoon "Ondoy".

Small players like UniOil and Flying V immediately imposed a price roll back of P2.00 per liter on their oil products in support to President Arroyo’s EO 839.

The so-called Big 3 oil players threatened that this could trigger fuel shortage.

Secretary to the Cabinet Silvestre Bello III said, those who will not follow the EO 839 could face criminal charges.

Deputy Presidential Spokesman for economic affairs Gary Olivar stressed, the implementation of EO 839 is only temporary while the country is under the state of calamity and the oil companies should do their social responsibility and sacrifice by following the oil price freeze order of the President.

Professor Olivar added, once the situation in the country is stable, President Arroyo will immediately lift the imposition of the EO 839.(PNA)

/V3/rudyma/

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