There seems to be no breathing spell to staggering hikes in price of everything nowadays. Let’s take liquefied petroleum gas. When I decided to switch from electricity to LPG about five years ago, an 11 kilogram tank cost only P99.00. The recent year is quite alarming. From P450.00 where it was last year, the same tank now costs around P700.00.
And State is encouraging motorists to switch from gasoline to LPG with loan incentive for those who will want engine conversion. That’s lifting a rock from one’s foot to drop it on another foot! Maybe State might as well encourage housewives now to cook with firewood since price of LPG has now soared… law of supply and demand.
Street demonstrations against rising costs of fuels seem to be headed towards the point of violence nowadays. More and more Filipinos no longer can cope up with the spiraling high costs of living survival triggered by incessant rise in costs of fuels.
I have watched this demonstration in Makati where a gone-buryong mob forced their way into an oil company’s premise and messed up the place with bold paints and tomatoes. One thing that caught my attention was this interview by media of one of the demonstrators. He was saying that the oil companies are already overpricing. I think overpricing is an invalid word there. Overpricing is a valid word only when there is an existing contract or agreement between, or entered into by two or more parties.
In the other hand, oil firms have been talking about compelling need to increase prices, and more of them to fall in the coming days, as they need to recover costs. This explanation may be interesting. But looking into them is good only as far as seeing into what’s really happening in the industry and no farther than that. There is nothing to keep them from dictating fuel price.
Recovery is valid only when one is talking about loss like higher costs of production caused beyond one’s control, something out of its hand. I think behind the rhetorics is economic opportunism that by law of supply and demand and by deregulation is not illegal. I mean, everything now regarding fuels depends on market forces.
Energy Secretary Angelo Reyes has called on the oil firms to explain the incessant, too frequent hikes of fuel price. I think it’s a waste of time. Oil has been deregulated so there is nothing to explain by these oil firms. Sad tales and self serving rationales leading to nowhere, is what being asked of them actually. In fact they can come out rude and flatly say that it is how prices they want them to be. And nobody can do anything about that.
There is only Law of Supply and Demand, take or leave, or do something else if there is any.
Add to your dictionary folks: buryong (bor-yong) Filipino slang. Incensed, fed up, to the point of being mad.