WITH the fluctuating prices of petroleum products, Cagayan De Oro City Councilor George Goking on Thursday appealed to fuel dealers to go further on their Corporate Social Responsibilities (CSR) to circumvent against fuel price hikes.

“This CSR is a commitment of industries to include oil dealers to contribute to sustainable development by working with relevant stakeholders to improve their lives,” said Goking.

Recently, the House of Representatives approved on third reading a bill seeking to institutionalize corporate social responsibility (CSR) in the operation of corporations in the country.

Goking sounded the alarm on a threat “worse than the pandemic”—the steady rise in oil prices and the absence of government safeguards for marginalized sectors.

“As much as possible at this time, we are appealing to fuel companies to get their supplies cheaper or even to lock the fuel prices at the current rate,” he said.

Gasoline fuel prices have risen by as much as P3.25 per liter from June 1, and by P2.70 per liter for diesel fuel and P2.55 per liter for kerosene during the same period.

Goking said to institutionalize CSR means to encourage all domestic and foreign business organizations, established and operating under Philippine laws.

Under the measure, CSR is defined as the commitment of businesses to contribute to sustainable development by working with relevant stakeholders to improve their lives in ways that are good for business.

“Sustainable development agenda, and society at large,” Goking stressed.

Furthermore, Goking said the Department of Trade and Industry shall recognize and reward all business organizations for outstanding, innovative, and world-class CSR-related services, projects, and programs.

Goking warned that the spike in oil prices in the past eight weeks would also result in price increases for basic commodities, food, and services.

“The increase in prices of petroleum products will have a domino effect and will trigger an increase in prices of basic commodities like food,” he said.

Goking also urged the government to push for a price control law or resolution to pull down oil prices, and said the deregulation law should be repealed.

While Goking understands their plight, the consuming public, who are already suffering because of the Covid-19 pandemic, should also be given importance.

Goking said that a possible meeting with local petroleum dealers in the city will be conducted regarding the matter. (Ben Balce)