To alleviate the financial burden on the residents of Palawan due to the incessant surge in oil prices, the Provincial Council swiftly approved a resolution beseeching Oil Industry Players, Gas and Fuel Companies to extend discounts or incentives to all Palaweños purchasing petroleum products.
Proposed Resolution No. 1277-23, titled “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,” was authored by Board Member Ryan D. Maminta, Chairman of the Committee on Energy in the Provincial Council. The resolution was greenlit during the regular session on August 22, 2023.
Maminta emphasized that while the government is limited in its capacity to counteract the continual escalation of fuel prices nationwide, including Palawan, it is appealing to all oil industry players, gas and fuel companies within the province to extend appropriate discounts to Palaweños purchasing and consuming petroleum products.
“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 tire situation,” stated Maminta.
Furthermore, he highlighted the dwindling supply of petroleum products globally due to production cutbacks by oil-producing companies, particularly in the Middle East and Russia. This production limitation is happening despite the escalating demand for these products, leading to substantial implications for the entire country.
“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.”
Addressing the projected continuation of high fuel prices for the next two months starting August, Maminta underscored that a significant reduction in the burden carried by Palaweños could be achieved if the oil industry players heed this plea. This initiative by the Provincial Council aims to foster solidarity within the industry and provide relief to the populace during these challenging times.