Local oil firms' profits make up a huge chunk of fuel prices

By Rigoberto D. Tiglao

Jun 15, 2022 12:07 am

GREED is really the engine of capitalism, global and local, as the current worldwide de facto oil crisis shows, in which prices soared from $70 per barrel at the beginning of the year to last week's $120. Everyone I know is shocked over the soaring, for instance, of the regular gasoline's price from P50 per liter in recent memory to P85 last week.

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