Oil transnationals will benefit more with tariff cut – Ibon

Independent think-tank IBON Foundation said that the tariff cut on crude oil imports would mainly benefit the transnational corporations (TNCs) that dominate the local oil industry while having a negligible, if any, effect on pump prices.

Amid record-high oil prices: Think-thank renews call to repeal oil deregulation law

Drastic measures are urgently needed to minimize the vulnerability of the Philippines to high global oil prices. Independent think-tank IBON Foundation says this includes the immediate suspension and eventual repeal of the Oil Deregulation Law and setting up a mechanism for government control of oil price hikes to ensure reasonable pump prices.