The Sangguniang Panlalawigan of Palawan approved Tuesday a measure appealing to all oil industry players to grant discounts or incentives to residents purchasing petroleum products due to the continuous increase in their market prices.
The move comes through proposed Resolution No. 1277-23 entitled “Resolution Earnestly Imploring the Good Will of All Oil Industry Players, Gas and Fuel Companies and Stations in the Province of Palawan to Continue Providing Discounts and Incentives to Palaweños Amid Unabated Rise of Fuel Prices,” authored by Board Member Ryan Maminta, chairman of the Committee on Energy in the Sangguniang Panlalawigan.
Maminta said the government finds itself powerless in the face of the escalation of petroleum product prices across the nation, including Palawan.
“As of now, we are helpless as to the continued unabated rise of fuel prices in the entire nation, including the province of Palawan; hence, we resolved to implore the good will of our oil industry players, gas and fuel companies, and stations in the province of Palawan to continue providing discounts and incentives to Palaweños in this dire situation,” said Maminta.
Furthermore, Maminta added that the current supply of petroleum products is dwindling due to reduced production by oil-producing companies, particularly in the Middle East and Russia. This decrease in supply coincides with heightened demand, resulting in nationwide repercussions.
“Right now, the supply of fuel is declining because of the cut in production in the Middle East and in Russia amidst the continued rising demand. Hence, we are at the very end of the negative effects of this continued decision by oil-producing companies.”
In relation to this, the board member also mentioned that the high petroleum product prices are expected to persist for another two months starting from August. Thus, granting this request would significantly alleviate the burden on Palaweños.