MANILA (Mindanao Examiner / Feb. 6, 2013) – Youth group Anakbayan criticized a new oil price hike as unjustified in the face of claims by the Aquino administration of an improving’ economy and better peso-dollar exchange rate.
“In past years, one of the main reasons always given is that the peso’s value versus the dollar is getting lower. Now that the peso is supposedly improving, we are still experiencing oil price hikes. What’s the real deal Noynoy?” asked Vencer Crisostomo, national chairperson of Anakbayan.
Oil companies increased their pump prices by the following: .45 centavos for diesel, .75 centavos for unleaded gasoline, and P1.05 for premium gasoline and worse, the Department of Energy has warned of another looming hike in fuel prices, said Crisostomo.
For his part, Kabataan party list national president Terry Ridon, said oil price hikes are absolutely unjustified.
“Time and time again, many think-tanks and research groups have shown that the oil cartel is overpricing their products. Virtually all of the petroleum products are sold by the ‘Big 3’ of oil companies.”
“Whenever there is an oil price hike, they claim that it is a ‘natural result of market forces’. But in truth, they are all colluding with each other to raise prices,” he said.
Presidential Spokesman Edwin Lacierda earlier said that Philippine economy grew by 6.8 percent in the 4th quarter of 2012, bringing full year growth for 2012 to 6.6 percent.
“The continued growth of our GDP is proof positive of our ability to sustain a united march forwards along the straight path toward equitable progress. Rest assured that while our administration is encouraged by these successes, we will continue to work even harder to maintain our economy’s upward trajectory,” he said.
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