Oil now at US$129/barrel and projected to hit US$150 by year's end

**ghosthunter** · May 20th, 2008 11:03 PM

Hold on to your panties but it was just at the news that oil has hit US$129 a barrel. Its also expected to hit $150 by end of the year.

This means if gasoline is priced at P55/L (current P52/L is still not done with under-recovery), by simple price projection of the percentage of the increase, by year's end the price of gasoline will hit P66/L.

So, has the fuel prices reached the "ouch" level for you yet?

**ghosthunter** · May 20th, 2008 11:10 PM

Sign of the near future?

**Monseratto** · May 21st, 2008 07:54 AM

Originally Posted by ghosthunter

Sign of the near future?

It more like food prices today. May supply pero walang pambili sa sobrang tinaas.

**tidus1203** · May 21st, 2008 08:28 AM

Well curse me if you want but I did buy GOLD and OIL futures yesterday

I guess its my hedge to rising prices, on one hand I am paying more for my gas on the other my investments are making money so even out lang

**tidus1203** · May 21st, 2008 08:40 AM

Eto na lang consolation price natin siguro. Everything that goes up must come down, true for physics and definitely true for the financial markets. You can quote me if you want but OIL is in a bubble too much money is going in including me

My reason is of course to protect myself from the erosion of inflation and I am sure many others also bought in for their own reasons (some to make quick money). You think at P70/L the economy will function properly? Who knows maybe the RP government will be pressured to remove tax on oil and remove the deregulation law if this continues...

**[archie]** · May 21st, 2008 08:51 AM

Originally Posted by tidus1203

Well curse me if you want but I did buy GOLD and OIL futures yesterday

I guess its my hedge to rising prices, on one hand I am paying more for my gas on the other my investments are making money so even out lang

:boo: joke lang...

Originally Posted by tidus1203

Eto na lang consolation price natin siguro. Everything that goes up must come down, true for physics and definitely true for the financial markets. You can quote me if you want but OIL is in a bubble too much money is going in including me

My reason is of course to protect myself from the erosion of inflation and I am sure many others also bought in for their own reasons (some to make quick money). You think at P70/L the economy will function properly? Who knows maybe the RP government will be pressured to remove tax on oil and remove the deregulation law if this continues...

i guess your right about this, parang hindi na talaga makakaya ng average juan ang 70php/liter. sana talaga bumaba na yung prices or at least stop the weekly increase...

**[archie]** · May 20th, 2008 11:11 PM

at 50 petot per liter ouch na sakin... patayan na naman sa pagtitipid niyan pag dating ng 60 petot/liter. :ouch:

**ghosthunter** · May 20th, 2008 11:17 PM

Originally Posted by archie123456789

at 50 petot per liter ouch na sakin... patayan na naman sa pagtitipid niyan pag dating ng 60 petot/liter. :ouch:

If you are already "making tipid" at this point, what else can you do to save more money? Leave your car at home and commute via public transportation? But even that is increasing in fare prices.

**[archie]** · May 20th, 2008 11:39 PM

Originally Posted by ghosthunter

If you are already "making tipid" at this point, what else can you do to save more money? Leave your car at home and commute via public transportation? But even that is increasing in fare prices.

parang ganon na nga... pag dating ng 60 per liter ill start using public transport more often... as of now, i do commute pag wala na budget for gas... so mas mapapadalas na if the price of gas hits 60 per liter.

even if the public fair are rising, its still a lot cheaper to do that than use the car... with the gas, parking, toll fees.

**bigMIKE** · May 21st, 2008 12:02 AM

Originally Posted by ghosthunter

Hold on to your panties but it was just at the news that oil has hit US$129 a barrel. Its also expected to hit $150 by end of the year.

This means if gasoline is priced at P55/L (current P52/L is still not done with under-recovery), by simple price projection of the percentage of the increase, by year's end the price of gasoline will hit P66/L.

So, has the fuel prices reached the "ouch" level for you yet?

Is ringostarr around to hear the news?