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PIA Press Release
2007/09/19

Palace sets up measures to mitigate oil price hike

Manila (19 September) -- President Gloria Macapagal-Arroyo, at today's Cabinet meeting, called for urgent efforts to cushion the impact of rising oil prices.

The Department of Energy (DOE) reported that crude hit its all-time peak last week. Oil futures point to lower prices later this year, but the President wants action to safeguard the economy now.

"The oil price hike spares no country and no class of society," says Cabinet Secretary Ricardo Saludo. "Fortunately, the strong peso has been cushioning the effect of higher oil prices on our industries. Now the government will further enhance energy conservation and alternative energy programs."

Among the actions directed by the President were:

  • Adding gas stations offering diesel discounts to jeepneys, to avoid fare hikes
  • Greater use of alternative fuels
  • Promotion of fuel-saving technology through economy runs
  • Use of energy-efficient technologies in industry and buildings
  • Revive demand-side management program for power industry
  • Increased exploration and development of indigenous energy sources
  • Intensify energy efficiency and conservation measures, i.e. DOE's Energy Saving Program
  • Replacement of incandescent bulbs with more efficient fluorescents
  • Enhancing monitoring and enforcement of energy rules and regulations
  • Revive the temporary modification of tariff duties for crude and refined petroleum products amidst the continuing oil price increases.

    The President has also directed the Department of Public Works and Highways to alleviate traffic along the South Luzon Expressway caused by construction in the area. This, she said, will lighten the traffic burden to motorists and at the same time save fuel. (PIA-MMIO) [top]

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