MANILA, Philippines - The militant transport group Pagkakaisa ng Samahan ng mga Tsuper at Operaytor Nationwide (Piston) condemned yesterday the 25-centavo per liter rollback on the pump price of diesel and the 50-centavo price cut per liter on gasoline that only showed the oil companies’ lack of generosity despite the continued decline of world crude prices.
George San Mateo, Piston secretary-general, said that last week the oil companies increased pump prices by P1.
“It’s like they are playing with us. When they roll back, it is by 25 centavos and 50 centavos, but when they hike prices, they hike it by P1 or P1.50 or P2,” San Mateo told The STAR.
“The overpricing, profiteering, and cartelization being done by the Big 3 are very clear when they engage in this practice of hiking by a big amount and reducing prices in measly amounts,” San Mateo said.
Petron, Chevron, and Seaoil have rolled back the prices of gasoline products by 50 centavos per liter and the firms also reduced diesel and kerosene prices by 25 centavos per liter.
The oil companies said the latest adjustments are consistent with the movement of oil prices in the international market.
The price cuts came after the oil companies increased their prices by P1 per liter last week.
Since last year, oil firms have been adjusting their prices on a weekly basis to make domestic oil prices reflective of the movements in the global oil market.
San Mateo said that the measly price reduction did not benefit public transport drivers and operators to enable them to buy more basic commodities or add to the school allowance of their children.
San Mateo expressed their group’s hope that the incoming administration of president-elect Benigno Aquino III would be different from that of outgoing President Arroyo, whose nine years in power saw oil firms engaging in profiteering and overpricing of petroleum products.– With Donnabelle Gatdula