Vehicles & Servicing Fuel price in the ph,how low will it go!

When Iran adds another 500,000 barrels a day prices will drop even further.
I see more traffic on the road in the near future.

 

As when living in every other country in the world, every $$ / peso saved in the weekly / monthly budget will put a bigger smile on wifey's face.

And that matters to me . She gives more freely to the "entertainment" budget when the overall budget is less tight.

 

Is that the same as the *beer* budget? hehe.

I keep seeing Oil prices drop massively but while I haven't done the math it seems like prices of gas in other countries is dropping far more then its dropping here in the Philippines. Sure I may save a few more peso's but sounds like in the US I'd be saving a few more dollars instead. A couple of places in the US have actually dipped under $1 a gallon while very few places just thinking of what the price would be for the rest vs what it is here. Think 1 gallon is 4.7 liters which would fill the average Honda Wave style motorcycle here.

 

Yes it always appears a bit slower in reaction. I suspect we don't allow for exchange rate accuracy.

Or they are trying to the pesos flowing ....

 

I agree the prices of fuel seem to go up at the pumps much faster when there is a per barrel oil increase but when the opposite is true and oil per barrel drops the price at the pumps comes down much, much more slowly. At least that has been my observation over the last 20 or so years living in the PI. Same goes for food prices like you can pretty much guarantee the price of protein will increase just before the holidays especially Christmas and New Years IMPO.

 

I agree the same holds true for America. Many companies going out of business and people out of work. Many of the little guys are being bought out by the big Oil Corporations who are better able to ride out this price slump, but you can guarantee when things turn around the prices will go up much faster and the big oil companies are going to reap huge windfall profits at the expense of the public IMPO.

 

Oil prices dropping will cost a lot of jobs but will create far more I think. Transportation is huge and when prices transporting stuff goes down a lot of the business's related to it take the time to expand. The US may lose a few bigger paying oil rig jobs and a bunch of others but will be replaced by far more lower end middle class jobs.

 

Hmmmmmmm and how do you see the rest of the world? Especially here, as this is where we Live. What is in Store do you Think for the Philippines?