Mikey warns oil firms not to take advantage of the recent calamities to raise prices
October 17, 2009 · Posted in Oil and Gas · Comment
PAMPANGA Rep. Juan Miguel “Mikey” Arroyo has warned oil companies not to take advantage of the recent calamities to raise the prices of their products.
Arroyo, chairman of the House committee on energy, said that while the oil industry has been deregulated, the law governing it “is not a blanket authority for oil firms to control the pump prices of petroleum products, especially during crises.”
“The oil deregulation law should not be mistaken for a fool-proof device which oil companies can use to take advantage of the market situation especially in times of calamities or crises,” he said. Read more
