Oil companies called insensitive and lack of compassion for hiking fuel prices at this time
Leaders of the House of Representatives on Tuesday blasted giant oil companies Petron and Shell for their “insensitivity and lack of compassion” in jacking up pump prices while the country has yet to recover from Tropical Storms “Ondoy” and “Pepeng.”
“This is really infuriating. While people around the world are trying their best to help us recover from the devastation caused by Ondoy and Pepeng, our own oil companies have the nerve to increase their prices. This is the highest point of ingratitude,” said Speaker Prospero Nograles.
Local oil companies raised prices of petroleum products beginning Tuesday—a day after Energy Secretary Angelo Reyes announced that he was seeking opinions on the possible imposition of price controls over these products.
Independent oil player Seaoil Philippines was the latest to implement a price hike as it raised on Wednesday the prices of its unleaded gasoline by P1.25 a liter, regular gasoline by 85 centavos, diesel by P2, and kerosene by P1.50.
It followed oil majors Pilipinas Shell Petroleum Corp. and Petron Corp. which implemented the same price hike Tuesday.
Total Philippines raised prices at 6 a.m. Tuesday. Total said it has kept pump prices stable at its stations located in areas affected by Pepeng.
Chevron hiked at noon Tuesday the prices of all its gasoline products by the same amounts.
“This is most disgusting, despicable and outrightly insensitive. People might get the impression that the oil companies are burning their bridges in Philippine society,” said Pampanga Rep. Juan Miguel Arroyo who recently proposed that oil prices be pegged at fixed rates in calamity-stricken areas.
The leftist labor group Kilusang Mayo Uno on Tuesday called the Big 3 oil companies “heartless, shameless profiteers” for adjusting prices at a time when the public is still reeling from the devastation wrought by Ondoy and Pepeng.
Nograles scored Reyes for his failure to exert pressure on the oil companies to defer price hikes.
“Secretary Angie Reyes could have at least called up these oil companies and appealed for compassion… This makes me wonder if the DoE is still part of the government,” he said.
The oil firms said the latest hike reflected a significant increase in international product prices.
The price of unleaded gasoline based on the Mean of Platts Singapore (MOPS) benchmark for refined petroleum products rose to $76.24 a barrel within the Oct. 12-16 period from the previous week’s level of $72.52 a barrel.
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