Workers picket Times Street to protest oil price hikes

Responding to the latest round of oil price increases, workers led by labor center Kilusang Mayo Uno held a picket in front of Pres. Noynoy Aquino's residence in Times Street this morning to protest the chief executive's continuing inaction on the issue.

The workers were protesting the following per-liter increases in prices implemented yesterday by Petron, Shell, Phoenix Petroleum, and Flying V: 70 centavos for premium and unleaded fuel, 60 centavos for regular gas, and 30 centavos for diesel.

"Workers and the common tao are still being punished by the oil companies with their price hikes because Pres. Aquino continues to refuse to act on the issue. He has refused to go after the oil companies for their overpricing, remove the 12 per cent VAT on oil, and junk the Oil Deregulation Law," said Roger Soluta, KMU secretary-general.

"He created the Independent Oil Price Review Committee to clear the oil companies of any wrongdoing and justify the implementation of the Oil Deregulation Law so he won't need to act on the issue. The IOPRC fulfilled Aquino's mandate and that's why oil companies are again increasing prices at will," he added.

The latest round of price hikes brings the increase, since the start of the year, in the per-liter price of diesel to 82 centavos and in the per-liter price of gasoline to P3.53.

"It's clear that despite the rollbacks, there's a net increase in oil prices this year. The oil companies cannot fool the people who directly experience the effects of the price increases in their pockets and bellies," Soluta said.

"Increases in oil prices result in increases in the prices of basic goods and services, which further lessen the real value of workers' wages. They mean further suffering especially for poor families," he said.

According to a March 2012 research of the Bagong Alyansang Makabayan, diesel is overpriced by as much as P7.86 per liter and gasoline by as much as P16.18 per liter.

 "The oil companies are trying to fool the public with their dagdag-bawas modus operandi, which means slightly reducing prices whenever people's protests get stronger. They are able to overprice these products even through these decreases – which are lower than what decreases in world prices dictate," Soluta said.

"We vow to hold bigger protests in the coming weeks if the prices of petroleum products continue to increase and the Aquino government continues to play deaf to our calls. We will not hesitate to call again for a Protestang Bayan if oil price hikes continue in the coming weeks" he added.