Finally, Almendras takes aim
| C.R.O.S.S.R.O.A.D.S |
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| Jonathan De la Cruz |
Finally, Energy Secretary Jose Rene Almendras has taken aim against oil companies that chose to raise prices last week in what one transport organization dubbed as a pamatay (deadly) Holy Week operation. The group advised that these companies, Shell, Total and Chevron, didn’t even take pause during the most “Holy of Hollies” even as the group welcomed Almendras’ belated order for these guys to bring down their prices immediately to reflect the movement in the world oil market. The youthful secretary told the companies to explain the inordinate haste in raising prices or else face “pricing abuse” charges if they fail to sufficiently justify their action.
Well, as they say, better late than never. At least, the agency has seen enough of these companies’ willy-nilly operations which brought about inordinate price increases in just a matter of months. We note that gasoline prices have been raised 13 times; diesel, 11 times and kerosene, 14 times while rollbacks, if at all, were small and came far in between. Even the price movements as far as LPG is concerned have not been as satisfactory as expected. So there. Imagine, getting whacked with such blows even as the global oil market’s volatility barely approximated that of the 2008 panic and in the midst of the peso’s strengthening at that. Nobody, not even the experts and oil industry veterans could come out with a rational explanation of such price movements in the local market, triggering protestations of “price manipulation.” Which is why the public awaits with bated breath what Almendras and company will do next now that they have finally decided enough is enough..... MORE
Source: The Daily Tribune
URL: http://www.tribuneonline.org/commentary/20110427com4.html
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