Fuel cost escalation
Prices of petroleum products increased again recently. The escalation of prices seems an unending cycle that grinds the impoverished lives of the poor masses. Such has been the trend that we have learned to live with. Indeed, we cannot expect prices going down to past levels anymore. The increase of oil prices always causes a chain reaction in practically all products and basic goods. Production cost of many goods will surely rise with the oil price increase. There too is a direct effect on transportation cost as vehicles are primarily run on fuel.
The rise in prices of fuel, oil and basic commodities do not always cause a corresponding rise in salaries, wages and income. Workers hardly get any adjustment on their earnings. Unlike capitalists who just make automatic adjustments on the prices of their merchandise to cover the cost of price increases, workers do not have that privilege of receiving automatic adjustments.
There is really something behind that trick of oil companies imposing increases while people are in slumber. People do not care to decipher the reason for such practice. They just take the price adjustments as they rise from sleep and accept that fate without protest. The practice of midnight rolls on the prices of oil and fuel had been effective insofar as minimizing resistance from the people.
Even the reactionary among our people could not put-up resistance, not even a slightest protest. It takes sometime before people could organize mass actions against such increases. Before any such protest could be held, the prices had already been effective and stable. Government technocrats could not formulate a good solution that will effectively reduce the impact of price increases.
Oil companies are in full control of prices because they are acting harmoniously without any competition. Many times, the oil companies had been charged as acting like a cartel, as they really are acting like one. Unfortunately, government seems powerless to break the situation. The oil companies are really lording it over with impunity that even the newcomers in the industry are just being eaten by the system.
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