Oil Price Hike
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Oil Price Shock: Market manipulation, not Middle East conflict, to blame — Piston
Piston strongly condemns the looming P5 per liter big-time oil price increase. The real culprit behind the relentless price shocks are market speculation and profiteering, not the Israel-Iran conflict as so often claimed. The truth is, global oil prices are being manipulated by traders and oil giants who exploit every hint of geopolitical tension to…
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27 years of oil deregulation: bleeding drivers dry while oil cartels rake in profits — Piston
Piston continues to condemn the Oil Deregulation Law (Republic Act 8479), blaming it for continuously crippling the income and livelihoods of drivers and consumers. The law, enacted 27 years ago on Feb. 10, 1998 to liberalize the oil industry, has left drivers and consumers at the mercy of volatile global oil markets and unchecked corporate…
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Cost-of-living crisis escalates under Marcos Jr: Transport workers demand accountability as oil giants, trapos rake in billions — Piston
The Philippines’ cost-of-living crisis has worsened, with jeepney drivers and operators enduring crippling fuel costs while oil corporations post staggering profits. Transport group Piston is sounding the alarm on systemic inequities, government negligence, and policies that prioritize corporate greed over public welfare. Jeepney sector crushed by fuel prices, neglect Jeepney drivers and operators, who serve…
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PISTON on big-time oil price hikes: Regressive fuel taxes, corruption exacerbate cost-of-living crisis in the Philippines
The Philippines faces a significant crisis as oil companies impose yet again, a hefty increase in fuel prices taking effect today, January 21, 2025. This marks the third consecutive week of oil price hikes, with gasoline prices rising by P1.65 per liter, diesel by P2.75 per liter, and kerosene by P2.50. This week’s increase has…
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Fuel prices soar as Marcos gov’t chases political gains over economic aid — PISTON
As oil prices surge for the second consecutive week of 2025, reaching P57 per liter for diesel in the National Capital Region, the government’s inadequate response reveals a stark prioritization of political consolidation over urgent economic relief measures, transport group PISTON said. While Filipino families face mounting pressures from escalating fuel, food, and basic commodity…