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

Discussion in 'Businesses - Services - Products' started by DavyL200, Jan 18, 2016.

  1. DavyL200

    DavyL200 DI Forum Luminary ★ Global Mod ★ ★ Moderator ★ Highly Rated Poster Showcase Reviewer

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    Oil firms PTT and Shell Petroleum Corp. on Monday announced another rollback of prices of its fuel products.

    Shell and PTT said they will slash the prices of its gasoline and diesel by P1.00 per liter and P1.45 per liter, respectively.

    Shell said it will also cut the price of its kerosene products by P1.25.

    The latest price adjustments will take effect at 6 a.m. Tuesday, January 19. —ALG, GMA News


    - See more at: Oil firms to rollback pump prices Tuesday | Money | GMA News Online
     
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  2. Show Pony

    Show Pony DI Forum Patron Highly Rated Poster Showcase Reviewer

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    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.
     
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  3. Nutz2U2

    Nutz2U2 DI Member Showcase Reviewer

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    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 :wink:. She gives more freely to the "entertainment" budget when the overall budget is less tight.

    :o o:
     
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  4. ChMacQueen

    ChMacQueen DI Forum Patron Highly Rated Poster Showcase Reviewer Veteran Army

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    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.
     
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  5. Nutz2U2

    Nutz2U2 DI Member Showcase Reviewer

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    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 .... :woot::woot::thumbsup::thumbsup:
     
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  6. OP
    OP
    DavyL200

    DavyL200 DI Forum Luminary ★ Global Mod ★ ★ Moderator ★ Highly Rated Poster Showcase Reviewer

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    A friend of mine has just been retired from the oil industry,he worked in aus for the last few years on the gas wells.
    He reckons the barrel price could fall as low as $15 before it bottoms out,there will be a lot of people out of work before this ends.
     
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  7. DaveD

    DaveD DI Senior Member Showcase Reviewer Veteran Navy

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    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.
     
  8. DaveD

    DaveD DI Senior Member Showcase Reviewer Veteran Navy

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    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.
     
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  9. ChMacQueen

    ChMacQueen DI Forum Patron Highly Rated Poster Showcase Reviewer Veteran Army

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    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.
     
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  10. Jack Peterson

    Jack Peterson DI Forum Luminary Highly Rated Poster SC Connoisseur Veteran Air Force

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    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?
     
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