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

Remittances surge to $10.4-B in 1st 4 months of 2018

    By Rose de la Cruz   Remittances from overseas Filipinos rose to $10.4 billion in January to April 2018, up by 4 percent hitting $2 billion... Read More...
BOP deficit to worsen to $3.1 billion in 2018

  By Rose de la Cruz   The Bangko Sentral ng Pilipinas projected that the balance of payment this year would worsen to $3.1 billion, equivalent to... Read More...
Bong still unsure of Senate run

Should he stay or should he go?  This is the question that Special Assistant to the President Christopher “Bong” Go is trying to answer and... Read More...
IMAGE In the know: Solar Philippines

Solar Philippines is currently the country’s – and Southeast Asia’s – largest solar-energy company. Founded in August 2013 by Leandro... Read More...
Wrong Dream Girl and Other Laughs

Wrong Dream GirlA FROG telephones the Psychic Hotline. His Personal Psychic Advisor tells him, "You are going to meet a beautiful young girl who will... Read More...
Confession Code and other laughs

Confession Code AN old priest who became sick of all the people in his parish who kept confessing to adultery said one Sunday, in the pulpit,"If I... Read More...

KAMAKAILAN ay tumawag ng atensyon ang plano ni Sen. Manny Pacquiao na maghain ng panukalang batas na naglalayon na isama bilang bahagi ng curriculum... Read More...

SUPORTADO nang ibat-ibang consumer group kabilang na ang Institute for Consumer Research and Empowerment (ICORE) ang panukalang dapat putulin na ang... Read More...

Our Guests

This week2479
This month15293

Visitor Info

  • Your IP:

Who Is Online


Wednesday, 20 June 2018
© 2016 OpinYon News Magazine Online. All Rights Reserved.

Please publish modules in offcanvas position.