High fuel prices cutting down fisherfolk operating hours
A FISHERFOLK association said rising fuel prices have forced municipal fisherfolk to reduce their operating hours.
Following a fifth consecutive week of fuel price increases, the Pambansang Lakas ng Kilusang Mamamalakaya ng Pilipinas (PAMALAKAYA) said in a statement on Tuesday that expensive diesel is limiting the time fisherfolk can spend at sea, cutting into their income.
On Feb. 2, major oil firms announced a hike in diesel prices of around P1.60 per liter, effective on Tuesday.
“From the usual six to eight hours at sea, fisherfolk now spend only about four hours fishing, as this is all they can afford,” PAMALAKAYA National Chairman Fernando L. Hicap was quoted as saying.
Mr. Hicap said fuel expenses account for about 80% of total fishing production costs.
The group called on the government to adopt measures to stabilize fuel prices, including the suspension of excise taxes on fuel products and the repeal of the Oil Deregulation Law.
The Oil Industry Deregulation Act of 1998, or Republic Act No. 8479, liberalized the downstream oil industry, reducing government control on pricing, importing, and exporting petroleum products to encourage market competition.
PAMALAKAYA is also calling for the immediate rollout of production subsidies for fisherfolk and farmers.
“Suspension of fuel tax along with sufficient rollout of production subsidies will mitigate the impacts of the oil price hike and increase the productivity of the fishing sector,” Mr. Hicap said.
He also urged authorities to address what the group described as overpricing and manipulation of fuel products by major oil companies. — Vonn Andrei E. Villamiel
You May Also Like
Trump foe devises plan to starve him of what he 'craves' most
Why Bitcoin Is Struggling: 8 Factors Impacting Crypto Markets
