Constant Weekend Rise at the Gas Pump

**tidus1203** · April 28th, 2008 11:27 AM

The problem is oil worldwide is priced in US Dollars. The US Dollar is falling like a knife for many many reasons that I won't list here anymore since off topic. With that in mind the peso is only stronger because the US Dollar is weaker. My solution price oil in Euro. We are going to see much more stable oil prices with probably just minor increases....

**1D4LV** · April 28th, 2008 11:30 AM

Originally Posted by meledson

Enrollment na naman. Malaking pag asa na tataas na naman ang piso.

Kadalasan, nag mumura kasi ang dollar tuwing pasko at enrollement.

Ang laki ng tulong ng pag angat ng piso sa gas prices. Kung nasa 50:1 today, malamang almost 60.00 ang unleaded.

ang dollar is slightly increasing to the peso.
last week, it was hovering at the Php 41.90 - USD 1 mark.
i think this morning, its around Php 42.08 - USD 1.

and to think of it, OFW remittances for the past few months are higher compared to last year.

**meledson** · April 28th, 2008 11:32 AM

The demand for oil is slowly increasing. Pag nagkaroon ng konting problem sa supply, the price goes up. Supply and demand.

Oil is a finite resource, para tumagal ito, supply is being controlled.

Ang Dubai, pinapa ganda na nila ang bansa nila para kumita sila sa mga tourist. They will have an income pag wala ng oil sa bansa nila.

**CVT** · April 28th, 2008 11:36 AM

Bakit biglang tumaas ang demand sa langis?.... One of the major reasons is China!

5909:burn:

**meledson** · April 28th, 2008 11:43 AM

Di ko pa na check sa news, pero parang may problem with iran. so affected ang oil supply.

**coiter** · April 28th, 2008 03:15 PM

daming issues ng pagtaas:

1. China and India's booming economies
2. the weak dollar and US economy which forces investors to shed the dollar and invest in commodities such as gold and oil
3. supply disruptions in major oil exporters (nigeria, valenzuela, iran, iraq, etc)
4. OPEC's resistance to increase output
5. oil companies' reluctance to drill for more oil

**meledson** · April 28th, 2008 03:30 PM

Can we merge this to:
http://tsikot.yehey.com/forums/showthread.php?t=49527

**Monseratto** · April 28th, 2008 07:33 PM

Originally Posted by meledson

Can we merge this to:
http://tsikot.yehey.com/forums/showthread.php?t=49527

Sobra naman malayo si MadMax sa topic natin sir.

**Monseratto** · May 3rd, 2008 04:11 PM

Another weekend, another rise...

Oil firms effect P1 price hike

Following the lead of the three major oil companies, Total (Philippines) Corp. said it will also implement a P1 increase in the prices of its petroleum products effective Saturday noon.

Total said the prices of its liquefied petroleum gas (LPG) products will go up by P1 per kilogram to partially reflect the increase in the contract price for the month of May.

In addition to the LPG price adjustment, Total will increase the prices of its gasoline, diesel, kerosene and auto LPG by P1 per liter. The price adjustments reflect the continued increase in international oil prices, the oil company said.

Earlier, the prices of Petron Corp.’s gasoline, kerosene and diesel also went up by P1 per liter, citing the continuing rise in the crude prices. Petron implemented the increase at 6 a.m. Saturday.

Pilipinas Shell Petroleum Corporation and Chevron Philippines (formerly Caltex) on Friday night announced another round of price hikes in their petroleum products effective Saturday morning, raising prices by P1.00 per liter.

Oil companies said they need to recover P7.00 per liter in the prices of their products. But this is assuming that oil prices in the world market do not shoot up again.

More price hikes

Last Tuesday, local oil companies indicated that price hikes in petroleum products will likely continue and may even increase in frequency in the coming weeks as oil production costs continue to soar in the world market.

"Unless substantial price reversal happens, additional cost recoveries by oil can be expected at frequent intervals," said Fernando Martinez, president of Eastern Petroleum Corp..

Eastern Petroleum said the staggered price increases being implemented are not enough for oil companies to recover their capital.

Local oil firms have only been effecting a P0.50 hike each week as part of their agreement with the government.

Oil companies have already implemented nine price hikes in their petroleum products in the past two months for a total of P5.00 per liter.

DOE should inform public

Consumer and Oil Price Watch Chairman Raul Concepcion, meanwhile, had urged the Department of Energy (DOE) to advise the public how long the increases will last.

"That is their obligation. The public is already in panic. The more the increases, the more you have to tell them," said Concepcion.

The Department of Energy, however, said that such task is beyond the department’s duties.

"We don’t announce how much the expected increase is. This is because we are not a price regulating body," said Zenaida Monsada of the DOE’s Oil Management Bureau. - With reports from Alvin Elchico and Charo Logarta, ABS-CBN News

http://www.abs-cbnnews.com/topoftheh...StoryId=116989