Republic Act No.

8479;
“Downstream Oil IndustryDeregulation
Act of 1998”

"foster a truly competitive market which

can better achieve the social policy
objectives of fair prices and adequate,
continuous supply of environmentally-
clean and high quality petroleum
products" (Congress 1998).
power supply deficiencies
slowdown in the national
economy
liberalize the oil industry
Deregulation was seen asthe
solution to the recurringdeficit
"No."
IBON Foundation reported that the Oil
Deregulation Law has further strengthened
the monopoly of the big oil companies as
automatic oil price hikes are allowed
other oil companies took advantage of the
policy, hiking pump prices of all petroleum
products by around 535% since the Oil
Deregulation Law was first implemented in
April 1996 (Bicol Today 2007).
The Philippines, like many other
nations, buys the oil at the spot market.
"spot" is meant, that one buys the oil at a
market only 24 to 48 hours before one
takes physical (spot) delivery, as
opposed to buying it 12 or more months
in advance.
In effect, the spot market inserted a
financial middleman into the oil patch
income stream.
London-based International Petroleum
Exchange (IPE)

New York Mercantile Exchange (NYMEX)

Amendment of the Oil Deregulation Law
Scrap/repeal the law
removal of 12% vat on oil
Seek alternative sources of energy
Engage in country-to-country oil
agreement
The flexibility provided by the fork tariff
system was very limited as the rates
could not vary to the extent that
operating costs varied with respect to
routes, ship technology (especially with
the introduction of container service
and roll-on roll-off, or RORO, service),
quality of packaging, and changes in
cargo handling methods.
The deregulation of the second- and
first-class passenger service did not
cause movement of passengers from
third to second class.
Competition creates pressure on the
shipping companies to produce the
quality of service desired by passengers
and shippers at the least cost.

Only the efficient ones remain.

MARINA (Maritime Industry Authority)
is an agency of the Philippine
government under the Department of
Transportation and
Communications responsible for
integrating the development, promotion
and regulation of the maritime industry in
the Philippines.
 MARINA has jurisdiction over the
development, promotion and regulation
of all enterprises engaged in the business
of
designing, constructing, manufacturing,
acquiring, operating, supplying,repairing
, and/or maintaining vessels, or
component parts thereof, of managing
and/or operating shipping
lines, shipyards, dry-docks, marine
railways, marine repair ships,shipping
and freight forwarding agencies and
similar enterprises.