Rising oil prices expose Aquino’s false claims of growth and dev’t

IT is hypocritical for President Benigno Aquino III to present the Philippines as a ‘developing nation’ to world economic leaders when his administration cannot control rising oil prices that continue to hurt and distress local businesses and consumers,” said Anakpawis Rep. Rafael V. Mariano.

Starting today, oil firms once again raised prices of petroleum products – 35 centavos per liter for diesel; 45 centavos per liter for kerosene; 90 centavos per liter for unleaded and premium gas; 95 centavos per liter for regular gas.

“This is too much to bear, especially for wage earners and small and medium enterprises (SMEs),” Mariano said.

“We are extremely disappointed that the Aquino government is doing nothing to stop high petroleum prices. Aquino even justified the cartel operations of local oil companies through the Independent Oil Price Review Committee.”

Mariano further noted that the 15th Congress failed to take up measures that seek to address the long-standing problem of high oil prices. “House Committee on Energy Chair Rep. Henedina Abad sat on several proposals that sought to provide protection to consumers from continuously increasing oil prices.”

The Anakpawis solon said the government’s “offending inaction on oil price hikes effectively exposes Aquino’s drama in Davos.”

“President Aquino only showed the superficial in the World Economic Forum in Davos. The so-called economic growth has no  trickle-down and real effects. In reality, Filipinos endure record-high joblessness and poverty. Aquino only continued previous economic development plans that do not genuinely cater to the needs and interests of Filipinos,” the solon said.

“The Philippines will indeed make it to the Guinness Book of World Records – as among the countries with most expensive oil prices, public utilities, high unemployment rate and poverty incidence,” added Mariano, deriding Aquino’s  statement that the strong domestic stock market performance will land the country on the Guiness World Records.

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