What is oil deregulation law?(did i spell it right)?

Question

help me ok lang !!!!!

Answer 1

I found this on Deregulation Law, Hope this helps you:

Deregulation
How about the Oil Deregulation Law, what is its effect on fuel pricing if any?

The Downstream Oil Deregulation Law of l998 virtually opened the industry to new players, resulting in the entry as of December 2003 of more than 60 new companies in various aspects of the trade such as retailing, terminalling, LPG import and distribution, transport, lubricant importation and distribution, and packaging. What is very significant though is the mushrooming of more than 500 new retail outlets in both Metro Manila and the countryside providing competitive prices and service to what used to be an environment dominated by three companies. As of the same period an estimated 18-percent market share had already been taken by the new entrants.

Deregulation similarly freed the government from its obligation to subsidize the Oil Price Stabilization Fund, which was established to cushion the impact of oil hikes but did not differentiate recipients of the subsidy from among oil users. Regardless of usage, a car owner or a factory enjoyed the subsidy more than a jeepney driver. Price control was in place during the regulated years but subject to a formula recognizing a reasonable return of 12 percent per annum of capital employed. While public hearings and authority to increase or decrease prices were needed by the oil companies, assured income for the investors more than compensated the hurdles that they had to overcome to get the price increase.

Answer 2

yeah thats right.
Not sure what the law though