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

[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?

[ghosthunter]

Sign of the near future?

[[archie]]

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

[ghosthunter]

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]]

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]

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?

[Monseratto]

Time to dump meh Camry and get a Ford focus TDCi?

[Monseratto]

Sign of the near future?

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

[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

[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...

[[archie]]

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...

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...

[tidus1203]

^^You could always join the OIL buying spree Bababala lang, if this reverses mabilis din yung bagsak maybe faster than the rise since IMO oil is in a bubble stage...

[uls]

iba naman po ang "NO GAS" from expensive gas.

I'd rather have expensive gas than no gas to buy.

OPEC says there is no supply problem.

OPEC even says their customers are not demanding more oil, so they don't have to pump more oil.

Guess who caused oil to hit $129 last night... that 80 year old oil man T. Boone Pickens, Jr.!!!

He was on CNBC last night and he said oil will reach $150.

Maraming salamat lolo...

Why don't u just develop Alzheimer's or something....

[tidus1203]

Hehehe well he is getting rich as oil goes up. He is a big oil baron as well as natural gas... Well like I said if you can;t beat them, join them so ayan I also bought oil to at least soothe the irritation at the pumps... If you read my signature, I still believe in that and we should be GOLD and hard assets. Inflation will be public enemy #1 this year and possibly next year as well....

[badsekktor]

sabi na nga ba magandang investment ang oil eh! anyway, meron na bang timetable kung kelan mauubos ang oil reserve ng earth? ano kaya ok na alternative?

[[archie]]

iba naman po ang "NO GAS" from expensive gas.

I'd rather have expensive gas than no gas to buy.

OPEC says there is no supply problem.

OPEC even says their customers are not demanding more oil, so they don't have to pump more oil.

Guess who caused oil to hit $129 last night... that 80 year old oil man T. Boone Pickens, Jr.!!!

He was on CNBC last night and he said oil will reach $150.

Maraming salamat lolo...

Why don't u just develop Alzheimer's or something....

totoo ito??? parang badtrip yun ha???!?

siya ba dictate ng oil prices sa market?

[tidus1203]

Oil the commodity ha and NOT stocks of GAS COMPANIES. Those are two different things...

[1997]

Oil the commodity ha and NOT stocks of GAS COMPANIES. Those are two different things...

paano moginagawa yun? If im to buy paano process?

[tidus1203]

What I did is open a US brokerage account such as TD Ameritrade (www.tdameritrade.com) there are also others like Charles Schwab, Etrade, Fidelty just Google them. Wire money to the account and I bought USO (United States Oil Reserve Fund) which tracks the price of NY Light Sweet Crude Oil. I also bought GLD (StreetTracks Gold Fund) which tracks Gold prices.... You need US Dollars by the way to buy the commodity. I don't know any a way in the Philippines to buy oil since commodity and futures trading is banned here.

[uls]

totoo ito??? parang badtrip yun ha???!?

siya ba dictate ng oil prices sa market?

Totoo dude. Why would i lie? hehe

http://www.cnbc.com/id/24723260/site/14081545/

Di sya nagdidictate ng oil price.

Kino-condition lang nya ang market na tataas pa ang oil price.

The market listens to him coz he is a bigshot pagdating sa oil. The only people bigger than him are OPEC oil ministers.

He has huge bets on rising oil price... meron sya hedge fund noh??!!!

so he comes out on CNBC and says oil will rise to $150...

Coz he needs people dumb enough to buy his trades when he is already selling.