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No reason to celebrate Noynoy’s b-day with new round of price hikes – Anakbayan

February 8, 2011

“The Filipino people have no reason to celebrate Noynoy Aquino’s birthday in the face of his continuing servility to the interests of the local oil cartel”

This was the reaction of newly-elected Anakbayan chairperson Vencer Crisostomo to the latest oil price hike, a P1.00 per liter increase for diesel and gasoline which was implemented last midnight.

“This is the way Noynoy throws a bash with his ‘Big 3’ buddies: by allowing them to squeeze more out of Filipinos through overpricing” said the youth leader.

Crisostomo asserted that local oil firms commit overpricing through the following:

  1. Oil firms only change their crude oil stocks every three months, hence, having local pump prices reflect changes in the world market will only result in greater profits
  2. Oil firms do not purchase their stocks from the world market but solely from their ‘mother’ companies
  3. ‘Transfer pricing’, or the overpricing of the crude oil ‘mother’ companies sell to their local firms

“Buti pa yung Porsche niya binibigyan ng atensyon, bakit kung hinggil sapagtaas ng presyo ng langis wala ni-isang salita ang marinig mula sa kanya? (We envy his Porsche because it gets all the attention whereas not a single word about the oil price hikes can be heard from him)” said the youth leader.

Anakbayan, the militant group of young workers, professionals, and students announced in the MRT-LRT fare hike last Feb. 4 that a nationwide walkout would be held this Feb. 28 to protest the various fare, price hikes that have occurred since the start of the year.

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