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8

Philippine Oil Firms Suspected In Manipulating Oil Prices

The Philippine government said on Sunday that big oil companies should open their financial books

The Philippine government said on Sunday that big oil companies should open their financial books to public scrutiny so as to erase doubts that they are a cartel or colluding with each other to manipulate oil prices.

A few nation-wide transport strikes have hit the country over the past weeks as transport unions protested soaring oil prices and inflation which came in consequence.

A recent poll showed that a majority of Filipinos are not happy with the work of the government in terms of controlling the prices of basic commodities and economic reforms.