Press Release
December 9, 2008

ROXAS TO OIL COMPANIES: BE TRANSPARENT

Liberal President Senator Mar Roxas today challenged oil companies to prove that they are not taking advantage of the public through continued high pump prices as he insisted on a big rollback of P10/L to set diesel price at P25/L.

"Base sa kalkulasyon ko, dapat P25 kada litro na lang itong presyo ng diesel at unleaded. Ano ang kinatatakutan nila at hindi sila naglalabas ng kanilang mga kalkulasyon? (Based on my calculations, diesel and unleaded should be priced at P25 a liter. What are these oil companies worried about and they're not coming out with their calculations?)," he said, in reaction to claims that the current prices of petroleum products could be justified.

"Iyan ang problema sa mga dambuhalang kumpanya ng langis na ito. Siyempre sasabihin nilang tama ang presyo nila. Bakit hindi nila ipakita sa atin kung paano sila naging tama sa pagsingil ng sobra sa taumbayan? (That's the problem with giant oil companies. Of course, they will say they are not overcharging the public. Why don't they show us proof that they are not doing so?)," Roxas said.

"Para sa akin at sa milyon nating mga taumbayan, mga dambuhalang linta ang mga kumpanya ng langis na ito dahil kahit sobra-sobra na ang bagsak ng presyo sa ibang bansa ay sige pa rin sila sa kakasingil ng mataas na presyo sa atin (For me and millions of Filipinos, these oil companies are giant leeches that continue to overprice even if crude prices abroad have dropped sharply)," he added.

Roxas nonetheless said he would call for a Senate hearing for the oil companies to explain themselves and to get data as to how their prices are computed.

"Dapat automatic na ginagawa ito ng Secretary of Energy ayon sa Oil Deregulation Law. Pero kung wala pa ring kilos si Secretary Angelo Reyes ay gagawin na namin sa Senado ang trabaho niya (This should be automatically done by the Secretary of Energy, based on the Oil Deregulation Law. But if Sec. Angelo Reyes still won't move, then we in the Senate will do his job)," he said.

Dubai Crude Oil  MOPS Diesel Unleaded
  PhP/$ US$/bbl PhP/L US$/bbl PhP/L PhP/L PhP/L
July 2008 (ave.) 44.94 $131.27 37.11 135.27 38.24 57.44 58.96
Present

49.18
(Ave. as
of 11/28)

 $49.84
(Ave. as
of 11/ 28)

15.42 48.41 14.97  35.94
(VAT - P3.85)

35.96
(VAT- P3.85)

% change in price   62% 58.4% 64.2% 60.9% 37.4% 39%

    

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