Philippines to review deregulation law

Philippine President Benigno Aquino lll had asked the Energy Department, Justice Department and the Transportation and Communications Department to review the oil deregulation law and determine if it should be amended. Oil prices in the Philippines have increased 30 times this year, compared to only 17 price rollbacks. Since January, gasoline prices rose by Php6.30 per liter (US$0.14), while diesel prices rose by Php8.20 (US$0.18) liter. Many groups, including the transport sector, have been clamoring for the repeal of the oil deregulation law. (November 3, 2011)