A 20-passenger jeepney usually has a full tank capacity of 60 liters, which means that the driver is spending ?1,107 ($21.83) more to fill up his tank. That is equivalent to about 29 kilos of rice – or two weeks’ worth of the regular consumption of a five- to six-member household.
Overpriced gasoline and diesel, for instance, gave oil firms an estimated P38.47 billion (US$757.13 million) in additional income, of which P4.62 billion ($90.93 million) went to the government as value-added tax (VAT).
For the 22nd time this year, the price of diesel will again go up this week with oil firms announcing a price hike of PHP 0.60 per liter.
Looking at the local oil price movement from the start of the year up to May 15, the price adjustments in diesel may have been “excessive” by about P1.03 per liter and gasoline by P1.34 centavos per liter. This resulted in about P53.74 million additional collections every day from diesel and gasoline products for the oil companies. Of this amount, P6.45 million daily go to the Duterte government’s oil VAT collections (on top of its additional revenues from the TRAIN law’s oil excise taxes).
‘The hikes sprang from the oil companies’ “imagination and greed,” which the Oil Deregulation Law gives them license to use.’
International oil price data show local oil prices should have been going down rather than up.
During a nationally coordinated drivers’ and workers’ protest led by Piston yesterday, March 24, George San Mateo, national president of Piston, said they disagree with the fare hike plan aired by Acto, 1-Utak, Altodap and Fejodap, “because public opinion will be turned against us drivers.”
PISTON explains that the P6 fuel discount is better than demanding for a fare hike, knowing that the riding public have been complaining about low wages and increasingly high prices of goods and services.
By MARYA SALAMAT
Progressive groups are protesting against high prices, high rates of utilities and mishandling of Sabah issue.
By MARYA SALAMAT
“What enriches oil companies greatly impoverishes Filipino consumers, especially public utility drivers.” – PISTON Partylist
By MARYA SALAMAT
In recognition of its consistent record in fighting for the people’s welfare against incessant oil price hikes, the Oil Deregulation Law, and the VAT on oil products, the Comelec approved the application for accreditation of transport group Piston as a partylist group.