PNOC-EC’s plan to import diesel hit

Sen. Sherwin Gatchalian on Monday questioned the decision of the board of state-run PNOC–Exploration Corp. to import P2 billion worth of diesel from Singapore.

Gatchalian raised doubts whether the diesel importation plan was the best solution to alleviate the plight of public utility drivers struggling to cope with rising fuel prices.

“I understand that we have a common goal and that is to help ease the burden of our jeepney drivers, who are actually one of the most vulnerable sectors to fluctuations in pump prices. However, I do not believe that the PNOC-EC plan is the best solution to the problem since there is no guarantee that the cheap fuel will reach the PUJ drivers,” said Gatchalian, who chairs the Senate committees on economic affairs and energy, respectively.

PNOC EC president Aquino earlier said the imported diesel would be around P5 cheaper per liter than the prevailing pump prices.

“It depends on the price we will get, but if we are able to get a price lower than the MOPS of Singapore, initially that is P5 less than the pump price,” Aquino said. 

Topics: Sherwin Gatchalian , PNOC–Exploration Corp , Senate committees on economic affairs and energy
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