Drowning in Oil

The price of oil is alarmingly rising. Consumers are now worried about that. Even other countries have contributed largely for the continuing shoot-up of oil and its by-products gasoline and diesel.

Economically, all countries are adversely affected by the increase of oil prices and confounded by the twin disasters in Japan last year and the continued threat of earthquakes and tsunamis as continued after shock and some earthquakes are being felt in other countries including the Philippines.

 It is praiseworthy that the Philippines office of the president have acted swiftly last year in May by issuing an appropriate Executive Order directing the Department of Energy to come-up with a temporal relief (Band-Aid Remedy) to cushion the impact of oil price hikes by preventing hikes on transport fares via giving subsidies or discounts on fuel (gasoline/diesoline). But it just disappeared together with its "benefits" of aiding motorists' agony of oil price hike.

As 2012 approached us, oil prices begin to roll up again. Many are being outraged by this especially drivers and oil consumers. Also, commuters are being affected because transport groups are now proposing for another fare hike.

It's just another burden for us, we should learn how to tighten our belt.

Photo Courtesy: google.com