I just got a highly reliable information that the big oil players, including the small ones, will jack up their gasoline and diesel prices next week, starting on Monday, July 19. Reason? International oil prices have gone up, they say.
I checked the Singapore Crude Oil Index and found that there is nothing that justifies another oil price hike. Fact is, the Singapore index remains the same and even lower than what we, consumers here in the Philippines, pay for our petrol.
Why are these oil companies hiking their prices when the international price remains the same?
This is too much already. And curiously though, Energy secretary Almendras is doing nothing to prevent this from happening.
President Noynoy Aquino should scrap the oil deregulation law and revert to the previous practice of regulating this precious commodity. This is the height of social injustice. The president should start de-fanging this humongous profit-makers and giving us, the Filipino People, the right and correct prices for our petrol. These oil companies are profitting from the hard-earned monies of the people.
If Noynoy Aquino is really serious in giving us social justice, start by lowering prices of commodities. Start by dismantling this oil cartel that is giving us a hard time living our lives here in the Metro.
Aside from this oil cartel, maybe Noynoy could also extend us a helping hand in dismantling the rice cartels.
Seven Chinese traders control the local rice cartel. These are the names of these Chinese traders:
1. Andrew Go of Forbes park Makati City.
2. Peter Chen
3. Paul So (claims to be a contributor of Noy)
4. Charlie Co
5. Paul Co
6. Steven Liu
7. Tony Tan