Oil companies know better than to hike prices soon


By Rose de la Cruz


Fuel prices would rise after the first or second payday of January 2018, thus predicted Rep. Michael “Mikee” Romero of 1-PACMAN partylist and assistant majority leader.


In a statement, Romerto said the sprouting of “cause-oriented groups who will try to sow fear about the fuel excise taxes” this year will likely fail in their efforts


“My latest take on the excise tax on oil products is that the oil companies will wait until or soon after the first or second payday of January 2018 before they start reflecting the impact of the new excise taxes,” he said.


The oil companies are wise enough not to shock consumers, he said.


“Remember what they did when world crude oil prices were rising to and reached $100 per barrel in 2015? The local oil firms had frequent staggered fuel price hikes. Oil firms are aware of the tolerance levels of consumers.


Future hot button issues would be electricity power rates and metered water rates. I have two sets of policy comments on these.


First, peso depreciation is only temporary and businesses must seize opportunities as they come.


Second, the country must have more foreign direct investments into businesses, factories. BPOs, and SMEs. More foreign investments mean more jobs, more dollar inflows, a stable peso-dollar rate, and inflation kept in check. 



Those BOI-approved investments, a lot of those should materialize in 2018, he said.

Like us in Facebook

facebook like box joomla


Latest News

2019 budget pegged at P3.4 trillion

By Rose de la Cruz     After last week’s release of the Budget Call for 2019 under National Budget Memorandum No. 129, representatives from... Read More...
FDIs surge in October 2017 to $2B from $670M

  By Rose de la Cruz   Foreign direct investment net inflows rose threefold in October 2017 to $2 billion from $670 million in the comparable... Read More...
Comelec control urged for narco-infested LGUs

  By Francisco Benjamin Garcia   Rep. Bernadette Herrera-Dy, chairman of the committee on public information at the lower house has urged that... Read More...

WHILE the modernization of public utility vehicles has always been in the wish list of past administrations, thought of as a solution to the... Read More...
IMAGE Honest Hubby and Other Laughs

Honest Hubby?THERE was this old lady who was caught shoplifting. On court day her husband accompanied her as she faced the judge. "Why did you... Read More...
IMAGE All about women and wives and other laughs

All about women and wives I married Miss Right. I just didn’t know her first name was Always. ***** Marriage is a three-ring circus: engagement... Read More...

TULUYAN nang tinuldukan ni Presidente Rodrigo Duterte ang anumang pagtatangka ng ibang mga grupo at sektor na buhaying muli ang usapang... Read More...

Guhit ni Ed Rompal INIULAT ni Senador Sonny Angara na nagkasundo na ang congressional bicameral conference committee sa limang probisyon na... Read More...

Our Guests

This week4832
This month15928

Visitor Info

  • Your IP:

Who Is Online


Thursday, 18 January 2018
© 2016 OpinYon News Magazine Online. All Rights Reserved.

Please publish modules in offcanvas position.