By ALDWIN QUITASOL
www.nordis.net

BAGUIO CITY — Feeling the bite of the unabated hike of oil prices, members of the city council passed a resolution urging congress to legislate the scrapping of the oil deregulation law (ODL) and the Value Added Tax (VAT) on oil prices.

The councilors agreed that because of the oil deregulation law which was passed during the term of then President Fidel V. Ramos, the control of the price of oil is out of the hands of the government. They added that this is the time that the law is scrapped and the regulation of oil prices be given back to the government.

Members of the city council also have agreed that 12% VAT on oil prices be removed. VAT only worsened the situation whenever there is an oil price hike in the world market. For this, the council unanimously approved a resolution also requesting the congress for the lifting of the imposition of VAT on oil prices.

The councilors further agreed that it will be a great help to the people upon the scrapping of the taxation of oil as well as the ODL.

Various groups especially the transport sector are saying that there is a P9 overpricing on diesel prices while P15 on the unleaded gasoline. Because of this, there is a nationwide campaign for a big time rollback in oil prices and other petroleum products.

Bayan Muna Party List Representative Teddy Casiño expressed appreciation to the members of the Baguio City council for the resolution. He said they will welcome the resolutionas and will integrate them in their legislation addressing the unabated oil price hikes and overpriced oil prices. # nordis.net