Bayan joins Metro-wide protest action calling for a substantial rollback in oil prices

The umbrella group Bagong Alyansang Makabayan joined labor and transport groups today in demanding a substantial rollback in oil prices after world crude prices significantly went down over the past few weeks.

Various groups staged simultaneous noise barrage actions in different protest centers to air their call for a rollback and for the removal of the Value Added Tax on petroleum products.

“The rollback should be at least P6-7.00 which is roughly equivalent to the oil price hikes in May and June this year. We are concerned that it is taking the oil companies forever to give consumers a substantial relief from high oil prices,” said Bayan secretary general Renato M. Reyes, Jr.

“The oil firms are quick to raise prices but are unbearably slow when it comes to lowering prices. The small rollbacks, while welcome, are not enough given the huge increases over the past few months,” Reyes said.

Bayan also called the attention of the government to stop the rising prices of bread, canned goods and other food items.

“Inflation has already reached 11.4%, the highest in 14 years, and all the government does is to tell us the VAT is good for us. This surely doesn’t make much sense given the severe economic burden on the people and the ensuing economic slowdown facing the country,” Reyes said.

Bayan and its allied groups assembled at Welcome Rotonda before marching to E. Rodriquez Avenue and Araneta Avenue in Quezon City.