CPP denounces collusion between Aquino and oil firms in new round of oil price increases

Information Bureau
Communist Party of the Philippines
June 18, 2013

The Communist Party of the Philippines (CPP) denounced the three big foreign oil firms in collusion with the Aquino regime for raising anew the retail prices of petroleum products by a hefty P1 to P1.50 per liter.  The new round of oil price increases which went into effect today is the third in less than three weeks.

The biggest three oil companies, Shell, Petron and Chevron raised the retail prices of oil products by P1.50 per liter of diesel and P1 per liter of gasoline. "This latest round of oil price increases come on top of recent increases in tuition and education costs, and planned increases in electricity and water rates," further pointed out the CPP. "These increases are additional burdens on the Filipino toiling people."

"The Aquino regime is proving itself totally inutile in terms of defending the rights and welfare of the Filipino working people who will bear the brunt of these new round of increases and the overall rising costs of living," added the CPP. "The collusion between the Aquino regime and the big foreign oil companies have caused grave harm on the lives of the Filipino people."

"Adamantly refusing to heed the Filipino people's demand to repeal the oil deregulation law of 1998, the Aquino regime has chosen to give foreign oil companies full rein to raise oil prices in order to satisfy their greed for superprofits," said the CPP.

"The incessant oil price increases in the Philippines has long been show to be not a matter of adjustments to fluctuations in world market prices, as the oil companies want us to believe," said the CPP, pointing out to how domestic oil prices shoot up with rises in international prices but do not correspondingly move down when prices drop.

"Oil prices are determined primarily by the whim for profits of the big oil executives who give absolutely no regard for the economic hardships of the people, save for when such increases would result in lower consumption or provoke a heightened political resistance from the people."

The CPP urges the Filipino people to press on with their demand for the repeal of the oil deregulation law which since its enactment more than 20 years ago has allowed foreign oil firms to strengthen their monopoly control of the local oil industry. The CPP further supports the demand for the nationalization of the oil industry which involves among others state-to-state oil trade, the centralized state procurement of crude oil, price controls etc. "

"The CPP urges the progressive people's organizations to build a broad educational and political movement, in different communities, schools and offices and in disparate forms with the aim of raising the people's awareness of the crucial issues surrounding the matter of oil price increases and militate them to raise their voices in a united stand against the oil companies and the Aquino regime."