Looking at the local oil price movement from the start of the year up to May 15, the price adjustments in diesel may have been “excessive” by about P1.03 per liter and gasoline by P1.34 centavos per liter. This resulted in about P53.74 million additional collections every day from diesel and gasoline products for the oil companies. Of this amount, P6.45 million daily go to the Duterte government’s oil VAT collections (on top of its additional revenues from the TRAIN law’s oil excise taxes).
Tags: Oil deregulation law
3 oil price hikes in 3 weeks, all unjustified – transport groups
‘The hikes sprang from the oil companies’ “imagination and greed,” which the Oil Deregulation Law gives them license to use.’
Big time oil price hike questioned amid falling global oil prices
International oil price data show local oil prices should have been going down rather than up.
Piston submits 7 demands to Aquino
During a nationally coordinated drivers’ and workers’ protest led by Piston yesterday, March 24, George San Mateo, national president of Piston, said they disagree with the fare hike plan aired by Acto, 1-Utak, Altodap and Fejodap, “because public opinion will be turned against us drivers.”
PISTON bats for P6 fuel discount for PUVs
PISTON explains that the P6 fuel discount is better than demanding for a fare hike, knowing that the riding public have been complaining about low wages and increasingly high prices of goods and services.
‘Progressive groups to set up protest centers March 20

By MARYA SALAMAT
Progressive groups are protesting against high prices, high rates of utilities and mishandling of Sabah issue.
Drivers decry shrinking income, demand big-time rollback in oil prices

By MARYA SALAMAT
“What enriches oil companies greatly impoverishes Filipino consumers, especially public utility drivers.” – PISTON Partylist
Piston leads weekly protests against oil price hikes

By MARYA SALAMAT
In recognition of its consistent record in fighting for the people’s welfare against incessant oil price hikes, the Oil Deregulation Law, and the VAT on oil products, the Comelec approved the application for accreditation of transport group Piston as a partylist group.
Oil price hikes, another blow against flood victims

By INA ALLECO R. SILVERIO
“As it turned out, the price freeze was just meant to temper public outrage over the shameless greed displayed by oil firms after hiking petroleum prices during the height of the flooding and devastation brought by the monsoon rains. In the end, oil firms simply could not moderate their greed.” – CAOPI
‘Every day Aquino delays investigating oil overpricing is glorious day for oil cartel’ – PISTON
‘Every day Aquino delays investigating oil overpricing is glorious day for oil cartel’ – PISTON (Photo by George San Mateo / Bulatlat.com)
Committee tasked to review oil prices meets with people’s organizations

By MARYA SALAMAT
While progressive groups welcome the review, they worry about the independence of the committee, the quality of, and its hesitation to share, the data it would be getting, and the limits that it imposes on itself.