“The oil cartel’s greed for bigger profits did not spare the holiday seasons. It surely raked in bigger profits as it timed its round of oil price hike during the return of people from vacations and provinces.”
This was the statement of Kilusang Mayo Uno as it slammed the recent round of oil price hike implemented by oil companies starting Monday.
More oil companies including Petron, Total, Caltex and Eastern Petroleum jacked up their prices yesterday following the Shell’s increase of oil prices last Monday.
Oil companies increased their prices by 90 centavos and 60 centavos for premium and regular gasoline; and by 30 centavos and 20 centavos for diesel and kerosene, respectively.
“This recent round of oil price hike is a clear sign that 2012 would be worse for workers and people already struggling from high prices while giant oil companies would rake in even bigger profits,” said Roger Soluta, KMU secretary-general.
“The Aquino government perpetuating such price hikes through the continued implementation of Oil Deregulation Law should prepare for bigger workers’ and people’s protests," said Soluta. Roger Soluta, KMU Secretary General