Oil pricing remains a mystery|Hiwaga sa presyo ng krudo/Death and taxes|Buwis at kamatayan (PJI editorials 20-21 May 2005)
Oil pricing remains a mystery
IT’S off the mark every time — the figures guessed at by consumer groups don’t ever tally with the numbers tabbed by oil players at the gas pumps, whether the price adjustment soars up or, by some major miracle, it goes down.
Thus, fuel pricing remains a mystery to all of us.
Taciturn executives of oil firms have been haled to congressional hearings over the past years to throw light on this mystery. Like gamblers out to out-hustle lawmakers, those oil fat cats hemmed and hawed while keeping their cards close to their chest. So to this day, the public remains in the dark as to how oil firms unleash pump figures that often cause commodity price spirals and shattered household budgets.
Transparency isn’t exactly a trait of oil companies, whether they’re upstarts or grizzled giants in the playing field. We need not be told: oil players do not want consumers to know the arithmetic of oil pricing.
For its silent partner part in this crime of so...