Fuel Price Increase [Merged]

[chua_riwap]

Saw at ANC: Oil firms warns of P4/liter price increase after E0839 is lifted........

[ghosthunter]

Saw at ANC: Oil firms warns of P4/liter price increase after E0839 is lifted........

Just P4? .. I was expecting higher.

Anyway, based on how I understand it, fuel prices will go up P4/L for a few weeks untilr the oil firms recover their losses then it should roll back to whatever "normal" price it should be.

[boybi]

If the price of crude will be above $80/barrel, the increase after the EO is lifted would be more than P4.00.

And then everybody would protest, especially those jeepney drivers and operators, and there would be chaos, then state of emergency would be declared.

[chua_riwap]

^^ Then......no more election.

[renzo_d10]

I need to fill my tank already. It's halfway through empty.

[ghosthunter]

^^ Then......no more election.

Yup. Martial law can be declared. But since the constitution has safety measures in place so martial law can only be maintained for a limited time.

PGMA's solution to that is obvious. She already has her supporters all over the government so it's not unthinkable of the time limit set of martial law to be removed. After that, it's just a matter of time before we are back nearly forty years ago.

[ghosthunter]

http://www.gmanews.tv/story/176419/o...k-market-surge

[SIZE="4"]Oil rises above $80 amid stock market surge[/SIZE]
11/06/2009 | 01:05 PM

SINGAPORE — Oil prices rose above $80 a barrel Friday in Asia as crude investors eyed a surge in global stock markets.

Benchmark crude for December delivery was up 47 cents to $80.09 a barrel at midday Singapore time in electronic trading on the New York Mercantile Exchange. The contract fell 78 cents to settle at $79.62 on Thursday.

Oil traders often look to stock markets for a sense of overall investor sentiment, and the Dow Jones industrial average rose 2.1 percent Thursday on better-than -expected jobless claims numbers and positive forecasts by Cisco Systems Inc. All major Asia indexes were also up in early Friday trading.

Crude investors are also watching signs in recent weeks of a drop in US oil supplies, which increased sharply this year as demand shrank. Some analysts forecast higher oil prices next year as the economy strengthens and demand recovers.

"We expect fundamentals to improve as oil demand growth resumes," Morgan Stanley said in a report. "Until the oil market tightens, oil will be dragged in the wake of other risky asset price moves."

Morgan Stanley said it expects oil to average $85 a barrel next year.

Crude has crisscrossed the $80 level for the last few weeks as investors mull weak US consumer demand and a volatile dollar.

In other Nymex trading, heating oil rose 1.16 cents to $2.07 a gallon. Gasoline for December delivery gained 0.99 cent to $2.00 a gallon. Natural gas for December delivery fell 1 cent to $4.78 per 1,000 cubic feet.

[boybi]

Crude oil have been trading around $80 (+/- $2) per barrel for the past few weeks. Price of crude last Oct 15 when the EO took effect was around $75/barrel.

How much does the $5 increase translate into pesos per liter of gasoline?