Oppose oil price increases, deregulation law -- CPP
May 18, 2004

The Communist Party of the Philippines today decried the latest P1/liter oil price increase implemented yesterday by oil companies amid renewed demands to scrap the oil deregulation law.

CPP spokesman Gregorio "Ka Roger" Rosal also took to task the Arroyo regime for its "callousness" in praising the oil companies for being "responsible" even as an average P5 per liter increase in oil prices in the past several months has jacked up prices of prime commodities and posed an added burden on the people.

Rosal noted that the deregulation of oil prices starting April 1996 has given full vent to the foreign oil monopolies' insatiable greed for profit. Since then, said Rosal, prices of petroleum products have been hiked 60 times, resulting in a more than 250% accumulated increase in the average price of oil products.

The CPP spokesperson said that the revolutionary movement holds the enactors of the oil deregulation law largely responsible for the continued deterioration in the people's living conditions as incessant oil price hikes have cut into incomes, sharply reduced the people's buying power and curtailed their access to basic goods and services. He called on the people to denounce these traitors as well as the oil monopolies.

Rosal said that the CPP fully supports the people's struggle against the oil deregulation law even as he called on all patriotic sectors, individuals and the people as a whole to unite and intensify their struggle Against oil price increases.

He explained that the revolutionary movement's program calls for the nationalization of the oil industry and other basic industries to enable the Filipino people to take commanding control of this and other strategic sections of the economy for their own interest. #

Reference:
Anne Buenaventura
Media Officer
Cellphone Number: +63910-240-3553

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Oppose oil price increases, deregulation law -- CPP May 18, 2004

Oppose oil price increases, deregulation law -- CPP
May 18, 2004