Kilusang Mayo Uno slams the “Big Three” namely Shell, Caltex and Petron for implementing below P2.00 Oil Price Rollback yesterday, and insists that a significant rollback should be felt by the people who had been suffering due to the high cost of commodities due to the unabated increases since last year. KMU Negros Spokesperson Ronald Ian Evidente told NDB that the Filipino workers suffer the economic lambast since the price of oil and commodities had gone up while they have reduced income.
Evidente further added that the prices of Oil had been overpriced since then. In 2001 the cost of oil rose to more than 6 times and it has tripled during the same period from the data of the Department of Energy.In 2009, then-socioeconomic planning adviser and now-Senator Ralph Recto said that petroleum products are overpriced by as much as P8.00, therefore the rollback should be as much as P9.00.
The prices in the world market do not coincide with the increase being implemented by the oil companies here in the country. KMU is calling on the workers and the people to launch various protest actions to compel the present administration of President Benigno Aquino III to act on the matter and call for the oil cartel to bring don oil prices and give relief to the people who are being hit with the economic crisis.#osb
