Press Release
October 20, 2008


Senate Majority Leader and Independent senator Kiko Pangilinan today strongly called on Shell, Petron and Caltex to give a "one-time, big-time rollback" on oil prices following the steady decrease in crude oil prices in the world market.

"We don't see any reason why the Big 3 should insist on refusing to give our consumers a big rollback, considering their recovery from the price increase a few months back. It is high time they yield to the demands of transport and consumer groups," Kiko said.

Kiko called for the 48-hour boycott of the big three oil companies in the country last month following their refusal to lower their prices despite the dramatic plummeting of international costs.

"The public is not stupid. There is no acceptable excuse for their refusal to grant a one-time big-time rollback. Inuunti-unti nila tayo. Eh kung ang small players nga kayang magbaba ng presyo, lalo na dapat sila! Ang problema sa kanila, kapag nagtaas sila ng presyo, biglaan. Pero bakit kapag dapat nang magbaba, dinadaan nila sa tingi-tingi?" Kiko asked.

As of July, pump price of unleaded gasoline had declined by P11.5 and diesel by P11. This month, the Dubai crude registered an average of $78 per barrel compared to $95.90 in September.

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