Fuel Price Increase [Merged]

[Monseratto]

Parang tumataas bawat araw. $57 na ang record ngayon. Di pa daw ito yung peak, lalakas pa daw yung demand pagdating ng summer!:arghhh::ouch:

New York oil price hits record 57 dollars
Posted: 6:24 PM | Mar. 17, 2005

Agence France-Presse

LONDON--New York's main crude oil contract rose above 57 dollars for the first time in trading on Thursday over supply worries despite OPEC's move to hike its output quota.

New York's main contract, light sweet crude for delivery in April, rose 55 cents to reach as high as 57.01 dollars per barrel in electronic deals before the start of formal pit trading.

[CLAVEL3699]

aakyat daw nang 35 petot isang liter. arghhhh!!!

pwede nga lang ba maglakad.

[Monseratto]

MAAWA naman kayo diyan!! Kakataas lang noong linggo!!!

Small oil players to raise prices Friday


Small oil players Flying V, Eastern Petroleum, Unioil and Seaoil will again increase the prices of their petroleum products by P0.50 per liter on Friday.

The announcement came after the price of diesel hit the $66-per-barrel mark in the world market on Thursday, the highest since February.

Unioil's price increase will take effect Friday at 6 a.m., while Flying V and Eastern Petroleum will raise prices at 12 noon. Seaoil will increase its prices at 6 p.m.

Flying V president Ramon Villavicencio said oil companies have no choice but raise oil prices because of the rising crude prices. He said Flying V is set to recover costs by adding P2 to current oil prices through four staggered increases.

Oil companies increased their prices by an average of P0.50 per liter last week.

Oil giant Petron Corporation was the first to increase pump prices by P0.50 per liter on Tuesday.

Shell Philippines and Caltex have yet to disclose their plans this week

[Mojo]

hehehe wala sana magalit

US Big engined SUV ata may kasalanan bat lumalakas ang demand ng US for Petroleum, 20% or 40% ata ng new cars for 2002 to 2004 ay 2.2 liter and above gas engines.

and yung trend is rising, considering yung size ng US car/automobile market, significant eto to affect prices.

[ILuvDetailing]

hehehe wala sana magalit

US Big engined SUV ata may kasalanan bat lumalakas ang demand ng US for Petroleum, 20% or 40% ata ng new cars for 2002 to 2004 ay 2.2 liter and above gas engines.

and yung trend is rising, considering yung size ng US car/automobile market, significant eto to affect prices.

I believe that the US led attacks on Iraq is the main culprit on the current oil price hike. Imagine how many liters of oil their tanks, aircraft, helicopters, etc use each and everyday, plus the oil wasted when Iraqies set fire several of the oil wells and the economic impact of the invation.

[Karding]

i wonder if americans will shy away from their V8s to V12s now that the prices of gasoline are getting out of hand?

it seems like it.

According to the Business report last night, down ang sales ng whole GM namely:

20% down in sales this year alone for EACH brand:

Pontiac
GMC
Chevrolet
Cadillac

niyayari sila ng Toyota :jump:

[Karding]

US Senate backs Alaska refuge drilling

As US oil prices scaled their new peak, the US Senate gave Bush's energy plan a major boost by voting to open Alaska's Arctic National Wildlife Refuge (ANWR) to oil drilling.

Republicans have tried for more than two decades to open ANWR to oil exploration. The Bush administration, which views ANWR as the centerpiece of its national energy plan, was blocked in the past four years by a Senate coalition of moderate Republicans and Democrats.

Im not against the ANWR drilling but even if they started selling the oils from ANWR (It wont be until after 10 years), the price will be the same as the oils from Saudi. ANWR Oil is good for 25years for supporting the US demand. What would the US do, tell the ARABS "talk to you in 25 years a$$holes!," NOT.

The best alternative is to develop an alternative (natural gas, methanol, ethanol, propane and petrol) to fuel the vehicles. Pero hindi suportado ng US Gov't ang research, siempre mawawala relationship nya sa ARAB saka sa business nila.

I voted for Bush but I recently agreed on John Kerry's proposal to invent an alternative fuel as opposed to being dependent with oil. It doesnt matter if the oil comes from ANWR or Arab world. This is the only way to pull the US or any other country out of the oil-hole

[cyberdoc95]

[SIZE=3]General Motors slashes its outlook
[/SIZE]
Web-posted Mar 17, 2005
By JOSEPH SZCZESNY
Press Automotive Editor
SOURCE:OAKLAND PRESS(CLICK HERE)

Battered by falling production and rising costs, General Motors Corp. has slashed its outlook and now says it expects to post a substantial loss for the first quarter.

The giant automaker will lose approximately $1.50 per share, excluding one-time charges, the company reported Wednesday. The expected drop could be the largest operating loss since 1992, when the company only narrowly avoided bankruptcy.

GM said it still expects to post a slender profit of $1 and $2 per share for the entire year. But the new guidance is substantially less than the $4-$5 of earnings company's executives had predicted in January, GM officials conceded. GM has 565 million shares outstanding.

In addition, the company's vital North American Operations are expected to post a significant loss for the full year, GM executives said.

Following GM's disclosure, credit rating services warned that the company's credit rating could fall below investment grade, which would drive up the company's borrowing costs.

"GM's credit rating is tenuous," Standard & Poor's said in a report Wednesday in which it changed the outlook for GM's rating from stable to negative.

Richard Wagoner, GM's chief executive officer, said the change in the guidance for the first quarter and full year reflected the company's slower sales in North America and a major cut in production in the U.S. and Canada. The pricing environment in the U.S. car market also is more difficult than expected, he said.

"Clearly, we have significant challenges in North America. The rest of our automotive businesses, and GMAC, are running in line with, or ahead of, our expectations," Wagoner said. "But North America is our biggest business and the key driver of automotive earnings and cash flow. So it's important that we get this business right."

John Devine, GM's chief financial officer, said pressure on the business has put significant pressure on the company's balance sheet.

Thus, GM also expects negative operating cash flow in 2005 of approximately $2 billion, before the Fiat settlement and GM Europe restructuring, versus the previous target of positive $2 billion, Devine said. GM hopes to begin rebuilding the company's cash reserves by the end of the year, he added.

Devine, however, has no intention of cutting capital spending. GM's 2005 corporate capital spending remains approximately $8 billion, or $1 billion above 2004 levels, he said.

"The competitive environment that we face in North America means we must continue to find ways to reduce our costs and grow revenue," Devine added. "At the same time, we expect to improve our revenue performance on the strength of our continuing stream of new cars and trucks, and our customer value-based marketing initiatives."

Wagoner, however, said GM is tweaking its marketing strategy to put less emphasis on big incentive programs and more on targeted rebates. GM also plans to spend more on advertising new products.

"Dealers tell us they love the car, but nobody knows about (it)," Wagoner said during a conference call with analysts and reporters.

Devine insisted GM is encouraged by consumer reaction to new vehicles such as the Chevrolet Equinox, Pontiac G6, Buick LaCrosse and Chevrolet Cobalt.

"The Equinox continues to gain share in the small-utility segment. Production of the Pontiac G6 is ramping up with two new engine choices and the segment's first hardtop convertible and a sleek coupe coming in the near future," Devine said.

Looking ahead, GM intends to continue to aggressively strengthen its brand portfolio with introduction this year of the Chevrolet HHR, Monte Carlo and Impala; the Hummer H3; the Pontiac Solstice, ******* and G6 coupe; the Cadillac DTS; the Buick Lucerne; and, the Saab 9-3 wagon and 9-7X.

Wagoner, however, said GM doesn't expect major changes in its strategy.

"We are staying the course on our key product programs and, in fact, are planning to accelerate the introduction of some of our most important launches," Wagoner said. "Great cars and trucks are the key to success in this business, and so remain our top priority."

GM's financial subsidiary, however, continues to produce strong earnings and will pay a $2 billion dividend this year.

"GMAC is on target to exceed expectations, despite higher interest rates and wider borrowing spreads," Wagoner said. "Much of GMAC's success stems from its ability to diversify its funding sources. We're confident that GMAC can continue to sustain strong levels of profitability."

The outlook for GM's other business sectors and units remains positive. The turnaround at GM's Latin America/Africa/Mid-East region continues to gain momentum and GM Asia Pacific remains on track, Wagoner said.

In a filing with the Securities and Exchange Commission, GM also said it plans to make several one-time accounting changes.

GM will book an after-tax charge of $886 million, or $1.56 per fully diluted share, for the settlement agreement with Fiat in the fourth quarter of 2004. GM agreed to cut its ties to Fiat last month and the changes will reduce GM's 2004 earnings to $4.95 per share from $6.51 as reported in January.

GM also said it is adjusting certain financial information for each of the four quarters of 2004 to reallocate certain entries at GM and GMAC among the quarters.

The adjustments relate mainly to asset valuation at GMAC's residential mortgage business and revised accounting for the Medicare legislation. These changes do not affect total net income or earnings per share for the calendar year, nor do they affect the company's financial condition or cash flows for 2004, said Jerry Dubrowski, a GM spokesman.

GM shares fell $4.71, or 14 percent, to close at $29.01 on the New York Stock Exchange, its lowest close since 1992.

[cyberdoc95]

hehehe wala sana magalit

US Big engined SUV ata may kasalanan bat lumalakas ang demand ng US for Petroleum, 20% or 40% ata ng new cars for 2002 to 2004 ay 2.2 liter and above gas engines.

and yung trend is rising, considering yung size ng US car/automobile market, significant eto to affect prices.

We know that price is always driven by supply and demand. It seems sa oil price increases, we point our fingers once again and blame the United States. Then again, we always blame the United States for everything. Even the tsunami or 9/11 attack was blamed on the United States..He he he... :bwahaha:

If we look at the table below from LTO.ORG, and see how many NEW vehicles are purchased and registered in a year in the Philippines. These even were figures when the economy was on harder times. I reckon that years before had higher numbers.

35% increase on numbers of NEW vehicles for private use, while 24% increase Vehicle-for-hire in a year and an Overall TOTAL of 34% increase on NEW vehicles(who says naghihirap talaga ang mga Pilipino??He he he he). I would say, the demand for fuel is definitely increasing even on a small country like the Philippines. It is without any doubt, a shortage and increased demand has occured prompting the prices to go up!

Having seen this figure, you'll ask and wonder: "just imagine how much more demand do other more developed countries have, when Philippines mismo has increased demands??"



LTO'S ANNUAL REPORT OF VEHICLE REGISTRATION[SOURCE:CLICK HERE(LTO.ORG)]
MV
Classification--Mode of Reg.----2003--------2004------% INC. (DEC.)


PRIVATE --------NEW-----------503,472-----680,903-----35.24
>>>>>>>>>>>>>RENEWAL........ 2,885,550.....3,115,047.... 7.9
>>>>>>>>>>>>..Sub-Total...... 3,389,022.....3,795,950.... 12.01

GOVERNMENT ::::NEW----------7,325--------6,820------- (6.89)
::::::::::::::::::::RENEWAL-----61,112-------67,536-------10.51
::::::::::::::::::::Sub-Total----68,437-------74,356--------8.65

DIPLOMATIC::::::NEW------------ 422------ 360 ----------(14.69)
:::::::::::::::::::RENEWAL-------- 2,394-----3,837---------60.28
:::::::::::::::::::Sub-Total:::::::::2,816----- 4,197---------49.04

FOR HIRE:::::::: NEW----------28,440-------35,218---------23.83
:::::::::::::::::::RENEWAL-----802,402------849,789--------5.91
:::::::::::::::::::Sub-Total----830,842------885,007--------6.52

TAX-EXEMPT::::NEW----------186----------99-------------(46.77)
::::::::::::::::::RENEWAL------969---------984-------------1.55
::::::::::::::::::Sub-Total-----1,155-------1,083-----------(6.23)

T O T A L:::::::NEW----------539,845------723,400--------34.00
::::::::::::::::::RENEWAL-----3,752,427----4,037,193-------7.59

::::::::::::::::::GRAND TOTAL-4,292,272----4,760,593-------10.91


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[mazdamazda]

OPEC already increased its prodution output by 500,000 barrels / day as they are also worried about the recent spike in fuel prices. they are targetting oil prices to level between $40-50.

problem is that the demand for oil is VERY high particularly from Developing Nations.