/ OIL PRICE NEARS $106 A BARREL
[PHOTO
COURTESY OF BULATLAT.COM
-Fe Nibasa, now jobless, is enraged that the government is doing nothing to stop
oil price hikes.(Photo by Ronalyn V. Olea /
bulatlat.com)]
MANILA,
MARCH 19, 2012 (PHILSTAR) By
Cheryl Arcibal - The government on Thursday reiterated that it would be unable
to stop oil firms from implementing oil price hikes in the country.
In a television interview, Zenaida Monsada, director of the Oil Industry
Management Bureau of the Department of Energy, said that oil prices in the
country are influenced by fuel prices in the international market.
"The oil supply has been disrupted because of the uprisings in the Middle
East and Africa. Our oil industry is deregulated. What we can do in the
government is to ensure that oil companies do not increase their prices
excessively," Monsada said. Since the start of the year, Monsada said, oil firms
have implemented eight rounds of price hikes and two rounds of rollback.
Monsada also said that the Philippines would be unable to influence the fuel
prices in the international market as the country consumes some 300,000 barrels
of oil a day, while the global demand is 90 million barrels a day.
"We just buy from the market, we can't do anything about it," Monsada said.
The activist group Bayan has led the protest actions against oil price hikes.
Bayan and other people's organizations, including the Koalisyon ng Makabayang
Manggawa at Mamamayan, held protest actions to coincide with the World Consumer
Rights Day.
"It has no concrete and thoroughgoing plan to address the impact of rising
petroleum prices. Consumers are fed up with this government's callousness," said
Renator Reyes Jr., Bayan secretary general.
He also clarified that no transport strike was being held in Metro Manila.
Reyes said that in deploying police and soldiers, the government may be
intending to intimidate protesters.
"OA sila pagdating sa protesta, pero inutil pagdating sa totoong problema,"
he said.
The Philippine National Police has deployed around 500 of its personnel
around areas of Metro Manila where protest actions are held.
[PHOTO FROM ARKIBONG
BAYAN.ORG- People's protests against oil price hikes and overpricing
BATODA/Batasan Terminal, Commonwelath, QC March 15, 2012]
Bayan will join the 1,450-strong BATODA or Batasan Tricycle Operators and
Drivers Association at their Batasan Road terminal for a program and noise
barrage. At the terminal, a huge streamer with the words "BATODA galit sa mataas
na presyo ng langis!" hung near the entrance.
The tricycle drivers parked at the terminal held several noise barrages while
waiting for passengers and listening to speakers.
Bayan also scored Malacanang for refusing to reduce the 12-percent Value
Added Tax on petroleum products.
The Palace issued a statement that the VAT is necessary to build government's
revenue base so that its cost of borrowing will decrease allow it to spend for
social investments.
"Malacanang does not want to give up this International Monetary Fund-imposed
revenue measure because it wants to keep paying its creditors. It wants to
maintain our current credit rating. It's all about debt and not about providing
social services," Reyes said.
The transport caravan and rally held by transport groups have compelled many
schools and colleges in Metro Manila to suspend classes. The transportation
sector has been complaining about the unabated increase in oil prices, reducing
their income.
In San Juan and Parañaque, classes in all levels have been suspended, while
those in Quezon City and Pasay City, classes in pre-school to high school have
also been suspended.
Other schools that declared class suspension were the Far Eastern University,
St. Catherine, Centro Escolar University, University of the East, Pamantasan ng
Lungsod ng Maynila, Sta. Isabel College, San Sebastian College, Our Lady of
Fatima University in Quezon City, College of Holly Spirit and Sienna College.
Manila Science High School has cancelled its scheduled exams but said that
classes will continue. Dennis Carcamo
FROM THE CHRONICLE-HERALD.CA
Oil price nears $106 after reserve reports denied
March 17, 2012 - 4:26am By THE ASSOCIATED PRESS
Oil prices rose slightly to near $106 a barrel Friday after the U.S. denied
reports it and the U.K. plan to release some of their strategic crude reserves.
By early afternoon in Europe, benchmark oil for April delivery was up 58
cents to $105.69 in electronic trading on the New York Mercantile Exchange.
The contract fell 32 cents to settle at $105.11 per barrel in New York on
Thursday.
In London, Brent crude for May delivery was up by 82 cents and reached
$123.42 per barrel on the ICE Futures exchange.
Oil briefly dropped near $104 per barrel Thursday after reports said the U.S.
and Britain had agreed to release spare supplies of oil in an effort to drive
fuel prices lower.
However, White House press secretary Jay Carney said there was no plan to
provide more crude to markets.
Some analysts downplayed how much a possible release of supplies would lower
prices. The Associated Press
Chief News Editor: Sol
Jose Vanzi
© Copyright, 2012 by PHILIPPINE HEADLINE
NEWS ONLINE
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