Gas Prices Talk

[seonadancing]

I got this idea from another site and i think that it's a good topic for discussion. We know that gas prices among other products works under the supply and demand rule. What if, we got a thing going where we support one particular gas company like Shell, and do that until the other gas stations lower their prices because they have lots of supply and nobody is buying. Then when they lower their prices, we go and support them then shell will be in the same situation. What do you guys think?

Gas prices can only go down as much but at least it's not the way it is now.

[zechs]

good morning, i think i have read something like this already in this forum...though its a marvel idea...but we're only just a small percentage of gasoline users here sa philippines. if we can reach out to many respondents, (enough to make a significant difference) why not?

and AFAIK, its going to be a weekly increase of 50cents per liter starting last week. gas prices have gone up 1peso in the last two weeks, due to the world market price increase of oil which is nearing $70 per barrel...

[mazdamazda]

there was a similar thread a few months back.

most of us classified that "boycott gasoline" thread as spam.

plus it is not feasible since you will be only hurting the distributors / retailers. the ones controlling the crude oil wouldn't even bat an eyelid even if you do this on a global scale.

[ssaloon]

that kind of thinking wont work...

[typhoon]

Mag-bike na lang tayo hehe.

[niky]

Yup... doomed to failure. Support gas stations with low prices, yes, if you want to save money, personally... but don't expect it to have a big effect on the world in general.

[oldblue]

I got this idea from another site and i think that it's a good topic for discussion. We know that gas prices among other products works under the supply and demand rule. What if, we got a thing going where we support one particular gas company like Shell, and do that until the other gas stations lower their prices because they have lots of supply and nobody is buying. Then when they lower their prices, we go and support them then shell will be in the same situation. What do you guys think?

Gas prices can only go down as much but at least it's not the way it is now.

fuel is an inelastic product.

The degree to which a demand or supply curve reacts to a change in price is the curve's elasticity. Elasticity varies among products because some products may be more essential to the consumer. Products that are necessities are more insensitive to price changes because consumers would continue buying these products despite price increases. Conversely, a price increase of a good or service that is considered less of a necessity will deter more consumers because the opportunity cost of buying the product will become too high.

A good or service is considered to be highly elastic if a slight change in price leads to a sharp change in the quantity demanded or supplied. Usually these kinds of products are readily available in the market and a person may not necessarily need them in his or her daily life. On the other hand, an inelastic good or service is one in which changes in price witness only modest changes in the quantity demanded or supplied, if any at all. These goods tend to be things that are more of a necessity to the consumer in his or her daily life.

from:

http://www.investopedia.com/universi...economics4.asp

[bajumbo]

we are at the mercy of the Oil companies!!! I tell ya!!

[empy]

13, 076 tsikot members
70 million filipinos
6 billion people worldwide who are (either directly or indirectly) consumers of oil

[speedy]

Sorry guys, but for some, the oil prices have meant a boom in investments! Knowing that you can't beat them, why not join them! Buy shares in oil refineries! I did 4 years ago and its done far better than any investments I've ever had. So pay the extra bucks at the pump but see "compounding interest in the future!"

[seonadancing]

I guess if all people only bought gas from Shell for example, mauubos naman supply nila then tataas sila ng price, then people will go to Caltex and Petron which has a lower price. A barrel of oil is expected to reach $200 so it's still good to buy stocks of refineries. Papano nga ba bumili?