TITO F. HERMOSO
The road to hell is paved with good intentions. Two decades ago, fuel price movements were greatly influenced by motives like a greener future and energy security, all noble when one considers that legislating laws mandating biofuel blends and subsidies help moribund or budding biofuel refiners. Today, it is the Train law, which raised taxes on fuels to more-or-less international price levels in order to fund our massive infrastructure ambitions. With world prices increasing, vote-conscious legislators again want to tinker with fuel pricing.