Saturday, November 24, 2007

Economic Upswing

The three giant oil companies in the country today is poising to inflict another blow on the consumers – the public in general – when they poise to impose another round of oil price increases. Remember that we have the oil industry deregulation law which was at first analyzed by proponents to improve the fuel prices, among others, because of the supposed entry of new players. But this is not what is happening now. Instead, the oil industry is fully controlled by the three giants. Maybe, this is one of the indicators of PGMA when she told the press about our economy on the upswing – everything will go upswing as a domino effects of OPIs. Prices of basic commodities will naturally follow suit and fare per kilometer will go up because the poor drivers can no longer tolerate to live side by side with the new fuel price. As usual, business firms will be affected but we know they can get away with it by passing the impact to the consumers in two manners – by refusing to give salary and wage increases and/or increasing products and services. For PGMA, all these indicate for economic upswing.