Drivers beware: Oil at all-time high

[Hanren]

They're going to really have to dig deep to keep prices from going up locally.

Just plain politics, though, so that they can keep on claiming that the economy is doing good... they should let the local prices reflect reality to encourage people to be a little more spendthrift. By lowering tarriffs, they're jeopardizing the government budget.

A 1% reduction on tariffs would translate to about 450 million pesos in lost reveues a year. Maybe its high time we really do some belt tightening measures on our cars..

and maybe help the country earn more revenues from these big oil companies by claiming our receipts every time we gas up. These oil companies would inevitable have to pass on the oil price increase burden to use consumers anyway...

[Monseratto]

A little more and we hit US$ 100 a barrel...

Oil hits $98 on weakening dollar

The ever-weakening dollar and fresh worries about winter fuel supplies have sent US oil prices to $98 a barrel.
The effect was worsened by storms in the North Sea on Tuesday, which disrupted supply as prices inched closer to the $100-a-barrel mark.

The weaker dollar has been driving up oil prices because some investors have been using the commodity as an alternative to holding dollars.

On the other hand, it makes oil relatively cheaper for anybody outside the US.

In recent sessions, record highs have been followed by falls of at least $1 a barrel. Nonetheless, some analysts say that $100-a-barrel oil is inevitable.

"We're going to get $100 before too long," said Kevin Norrish of Barclays Capital.

Also the Peso hit its highest ever against the dollar...P43.275

[pup2]

A little more and we hit US$ 100 a barrel...



Also the Peso hit its highest ever against the dollar...P43.275

Naiinis lang ako kasi kung kelan ako nag-shift from a super-efficient compact (which I've used all my life) to a CUV (since we can afford it now), this happens and makes me feel guilty.