Tuesday, December 23, 2008 Cabaero: Oil companies’ gift By Nini B. Cabaero Beyond 30
SOMETIMES, it is not the gift but the thought behind it that counts.
This is something we tell each other during this season of gift-giving, especially that the hard times can get in the way of our buying to-be-cherished and, maybe necessarily, expensive gifts this Christmas for friends and loved ones.
In the end, what matters most is the thought that they are in our hearts.
Sadly, this line cannot apply to the so-called Christmas gift to us from the oil companies last week.
The country’s three big oil players were quick to describe as their Christmas gift to the public the P2 per liter rollback on prices of petroleum products that took effect last Friday.
The question there was why they had to wait for the holiday season when the price of oil in the international market has been going down for months now and why only that much. It seems the oil companies have been stretching the profit season for them before finally letting the public enjoy the much lower cost of crude oil.
Officials of the oil companies said last week the P2 per liter rollback was not in reaction to the transport caravan of groups pushing for lower fuel rates. Edgar Chua, country manager of Pilipinas Shell Petroleum Corp., said the price reduction was given by the oil companies as a “Christmas gift” to motorists.
Prior to that, it was Energy Secretary Angelo Reyes who appealed to the three big players–Pilipinas Shell, Petron Corp. and Chevron Philippines–to grant a rollback in time for Christmas. In addition to the price reduction ordered last Friday, Chua said the public would expect more decreases in the cost of fuel products in January 2009.
Independent oil companies Seaoil Philippines, PTT Philippines and Eastern petroleum have made price adjustments too.
Since August, oil companies have been bringing down fuel prices in a staggered way or of a few pesos per liter for every adjustment. Total price reduction for gasoline and diesel is placed at P27.50 per liter and P24.50 per liter, respectively.
A Christmas gift, based on Church teachings, is one through which we get to share our blessings with others to show them we care, we love, we are one in celebrating the baby Jesus’ birthday. The essence of the gift-giving is generosity and love.
That cannot be said of the oil companies who have been quick at raising fuel prices when the global market gives them reason to do so, but slow at bringing prices down despite the trend in the global market and in spite of calls from the affected sectors.
If the latest oil price reduction were a Christmas gift, even the thought behind it could be suspect. The price adjustment was something that was truly due to the Filipino people but was delayed or managed to run in over so many weeks on a staggered basis.
The oil companies might as well not call it a Christmas gift. It isn’t a gift, and the thought behind it was not borne out of their generosity and concern for the people but out of pressure from the government.
The better way would be for them to promise to resolve in the coming year to be honest and transparent to the Filipino people.
