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Bacolod City, PhilippinesWednesday, September 12, 2012
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Oil price cut not enough – Ortega

The Sentrong Samahan ng Tsuper at Operators-Negros is not satisfied with the reduced oil prices of companies in the Philippines that started Monday, their secretary general Jesse Ortega said yesterday.

Ortega said the price rollback does not even reach P1, and they did not feel it at all.

He said the price reduction was only made by the oil companies to please the transport sector and to show that they are complying with the price changes in the world market.

He also claimed that the prices do not actually reflect those in the world market and he believes they are all rollback estimates so the income of oil companies will not be at stake.

Ortega said they have been filing petitions before the Department of Energy to repeal the law, but their demands remained unheard.

The group plans to organize a protest to reiterate their demands, he said.

On Monday, Pilipinas Shell, Petron Corporation, and Total Philippines had joined other companies in rolling back oil price. *LTG

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