Anakbayan slams latest oil price hike, calls Noynoy ‘liar’ and ‘brother of thieving oil cartel’

“With the latest hike, as well as Noynoy’s claims that they are on top of the situation, we can say that he and the ‘Big 3’ are like brothers: dahil ang magnanakaw ay kapatid ng sinungaling (The thief is brother to the liar).”

This was the reaction of Anakbayan spokesperson Vencer Crisostomo on the latest oil price hike, which was implemented midnight Tuesday, and the continued inaction by the government of President Noynoy Aquino to control the ballooning price of local petroleum products.

The hike, which is the fourth this year, amounted to P1.00 per liter for diesel, and P0.75 per liter for gasoline. The previous hikes have been cited as the bases for petitions for increases in taxi, jeep, and bus fares. The taxi fare increase, which raises the flagdown rate to P40, already took effect yesterday.

“It is untrue that the Aquino government is doing everything they can to soften the impact of the hikes on the public. What is true is that they are doing everything except addressing the actual issue” said Crisostomo.

“Oil companies’ stocks of crude oil last for around three months, not one week. Assuming that they bought their latest stock last November, this means that the increases in the world market’s price of crude oil should only affect local pump prices next month” he explained.

“These weekly oil price hikes constitute nothing but blatant profiteering by the oil cartel at the expense of the Filipino people” concluded the youth leader.

He added that even if the four hikes for 2011 were to be discounted, local petroleum products continue to be overpriced. According to the militant umbrella group Bayan (Bagong Alyansang Makabayan), local pump prices were overpriced by P6.72 per liter at the close of 2010.

“Yet Aquino continues to insist that there is no overpricing. Hindi lang siya nagbubulag-bulagan sa katotohanan, nagsisinungaling pa siya sa publiko (He isn’t just playing blind, he’s lying to the public)” concluded Crisostomo.