Youth militants protest oil price hikes in Davao

Subscribe Now September 02, 2011 at 07:55pm

Militant youth groups on Friday held a protest action in Davao City following the series of price increases on various oil products. Series of oil price hikes are being implemented by the three big oil firms (Petron, Shell and Chevron) on Friday, 35 centavos for unleaded gasoline and 50 centavos for regular gasoline, respectively.

These are the 20th oil price increase for this year and the 31st since President Benigno Aquino III took power in June 2010.

“It is clear that the Department of Energy is inutile and deregulation on oil industry is the real culprit in this crime. The series of oil price increases further confirms the obvious: Aquino and the Big 3 conspiracy” said Cherry Orendain, Anakbayan Southern Mindanao spokesperson.

Since the implementation of Oil Deregulation Law in 1996, the group observed that the rate of increase for diesel alone is more than 600 percent – from P7 up to P45 per liter in 2010.

"These policies should be scrapped. Oil Deregulation Law and the 12 percent VAT on oil do not do any good. Instead, it makes the 'Big 3' richer and the Filipino people suffer thousand folds," said Orendain.


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