Oil deregulation review sought

Speaker Nograles laments fuel price hikes
Vows to use Congress’ powers of oversight

After being ignored by oil companies, House Speaker Prospero Nograles yesterday renewed his threat to push for a congressional review of the oil deregulation law in the wake of government’s vow to examine the finances of the country’s major petroleum players.

In a press statement, Nograles said Congress has the power and mandate to review, amend, or repeal any law, including the oil deregulation law, when required by national interest.

“Revisiting the present oil deregulation law is not far-fetched,” he said.

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