4 transport groups mull fare hike

Who needs the oil industry deregulation law?

Four of the country’s largest transport groups yesterday called on the government to regulate anew the oil industry to help stabilize the economy.

The Pasang Masda, Pinag-isang Samahan ng Tsuper at Operaytor Nationwide (Piston), Federation of Jeepney Operators and Drivers Association of the Philippines (Fejodap) and the Federation of Rizal-Cubao Drivers Alliance are poised to seek a P1 fare increase if the cumulative oil price adjustment reaches P2 per liter.

Pasang Masda president Obet Martin said the government should exercise control over oil prices because oil companies have been abusing the deregulation policy.

"Oil companies are getting richer at the expense of the Filipino people. They increase their prices at the slightest provocation. They don’t take the public into consideration," Martin said.

He said oil firms are dictating the country’s economy through its dependence on fuel and are using the deregulation of the oil industry for their own benefit.

When President Arroyo celebrated her birthday last April, the four transport groups gifted her with a commitment not to seek fare adjustments unless the price of diesel jacks up by P2 per liter.

According to Martin, fuel prices have risen by P1.88 per liter since then because of the fuel price adjustments made by oil firms in June, August and this month. – Sheila Crisostomo