Former Defense Secretary and senatorial candidate Gilbert (GIBO) Teodoro expects that prices of petroleum products will continue to increase even when the Russia and Ukraine conflict finishes.

Gibo Teodoro, a former Tarlac congressman, said pump price hikes will persist as international sanctions imposed against Russia will continue to impact the oil prices in the global market.

“Ito ang pinangangamba ko dahil bagamat [kung] tapos na ang conflict between Russia and Ukraine, hindi ibig sabihin niyan mawawalan na ng sanctions ang Russia,” Gibo Teodoro said in a radio interview with DZRH. “Kasi puwedeng tigil-putukan na sila pero at the expense of what? ‘Yan ang gusto nating malaman.”

Gibo Teodoro, the 1989 Bar top notcher, reiterated his support for price unbundling for petroleum products to ensure that not all costs are being passed on to consumers.

“Iyong component ng taxes, kung may naka-embed sa logistics nito, alisin na rin. Let’s say ipadadala ‘yong fuel, may storage cost na ipinapasa sa nagbebenta ng fuel,” Gibo Teodoro said. “Alisin na rin itong mga input taxes na ito na ipinapasa sa mga consumers.”