Senate inquiry into Russia-Ukraine conflict effects on Philippine energy security sought

Senator Sherwin Gatchalian has filed a Senate resolution seeking an inquiry into the effects of the ongoing conflict between Russia and Ukraine to the Philippine energy security and affordability.

"There is thus a need for Congress to be apprised of the short, medium, and long-term effects and implications of the Russian invasion of Ukraine on the Philippine economy, in particular the security of the country's supply of oil, and the effects of the continuously elevated global oil and coal prices on domestic oil and petroleum products as well as power generation from coal-fired power plants," the proposed Senate Resolution 78 read.

Under the resolution, Gatchalian emphasized the "drastic increase" in international crude oil which is mirrored domestically with price of gasoline increasing by 22% from its January price of P63.58 per liter to May 2022 price at P77.71 per liter.

Same goes with the local price of diesel with 49% hike from its January 2022 price of P50.95 per liter to May 2022 price of P75.92 per liter.

Gatchalian said the increase in domestic pump prices has led to jeepney drivers opting not to ply their routes and provincial bus and taxi operating at 20% to 30% capacity.

He said this has led to severe lack of available public transportation that can be utilized by the commuters.

Based on the data from Newcastle index, the senator also said that there is a 92% increase in the global prices of coal from US$222.75 per metric ton in January 2022 to US$428 per metric ton in May 2022.

Gatchalian said the global coal prices has led to the filing of some generation companies for fuel pass-through with the Energy Regulatory Commission.

"Resolved by the Senate, as it is hereby resolved, to direct the appropriate Senate Committee to conduct an inquiry in aid of legislation on the effects of the Russian invasion of Ukraine in the country's energy security and affordability," Gatchalian wrote in PSR 78.—AOL/RSJ, GMA News