Letter of Instructions No. 1431
WHEREAS, an Oil Price Stabilization Fund was created under the provisions of
Section 8, Presidential Decree No. 1956, to be used to
reimburse the oil companies for cost increases on crude oil and imported
petroleum products resulting from exchange rate adjustment and/or increase in
world market prices of crude oil;
NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the Philippines, by virtue
of the authority vested in me by the Constitution, do hereby order and instruct
the utilization of the Oil Price Stabilization Fund created under
Section 8 of Presidential Decree No. 1956 to reimburse oil companies
the additional costs of importation of crude oil and petroleum products due to
fluctuations in foreign exchange rates, to assure adequate and continuous supply
of petroleum products at reasonable prices.
Done in the City of Manila, this 15th day of October, in the year of Our Lord
nineteen hundred and eighty-four.
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