Fuel Price Increase [Merged]

[2004lynxghia]

punta nalang ko sa depot dya-an sa paco ba yon..?..makabili dram-dram..

[BlueBimmer]

pero alam ko d pwede storage matagal ang fuel, may franchise kme petron dati, may limit ang storage duration ng mga fuel. so di rin pwede mag hoard hehe

[mazdamazda]

Petron's Net Income from 1991 - 2003

1991 1.2
1992 1.5
1993 2.8
1994 7.5
1995 4
1996 4.2
1997 -0.6
1998 3.7
1999 2.4
2000 -1
2001 1.2
2002 2.9
2003 3.1

32.9B Net Income from 1991 - 2003.

Hmmm... IMO it is just right. In contrast PLDT's Net Income for 2004 alone is around P28B.

[Monseratto]

Sobrang lamig ngayon kasi sa Europe at North America kaya mataas ang demand for heating fuel. Kaya na affected din yung pag speculate ng presyo ng gasolina. Yung ideal dati ay $ 30/barrel pero ngayon $53/ barrel na.

Just pasted this quote from the BBC news website. GOD HELP US!!

"The price of the UK's Brent crude oil hit a record high of $53 a barrel during trading on Thursday.
Analysts said the $1.78 afternoon surge was caused by a number of factors including strong speculative buying and comments by oil producers cartel Opec.

Oil purchasers were said to be buying large quantities on the back of Opec comments that there was a possibility the price could hit $80 in two years."

[Monseratto]

Oil price hikes more often, warns energy dep't

Posted 00:08am (Mla time) Mar 05, 2005
By Abigail Ho
Inquirer News Service

WITH world oil prices surging to unprecedented levels the past week, the energy department has warned motorists and commuters to brace themselves for much more frequent increases in petroleum pump prices.

Energy Undersecretary Peter Anthony Abaya said international prices had been on an uptrend the past few days, with prices rising to record levels almost overnight every single day.

"Oil has risen to record levels once again overnight. Diesel spot price is now at more that $65 a barrel. The February average was $55," Abaya said in a text message yesterday.

Even at these prices, the demand for oil continues to grow, the official noted, and warned that if the Organization of Petroleum Exporting Countries were to adjust upward the price band for its basket of crude--from the current between $22 and $28 per barrel--domestic pump prices could go further up.

"The local oil industry and the public better be ready to accept these new price levels. Right now, the local market is starting to reflect this latest oil price surge abroad," he said.

The regional benchmark Dubai crude surged to a spot price of $43.90 a barrel on March 3, driving up the March average to $43.26 a barrel. The February average was only $39.87 a barrel.

The price of unleaded gasoline based on the Mean of Platts Singapore (MOPS) benchmark for refined petroleum products also climbed to a March average of $57.65 a barrel, with the March 3 spot price soaring to $58.89 a barrel.

MOPS-based gasoline averaged only $54.27 a barrel last month.

Eclipsing all records, MOPS-based diesel surged to a March average of $65.51 a barrel, almost $10 higher than the February average of $55.63 a barrel. The March 3 spot price was $67.46 a barrel.

Domestic oil prices are based on international prices, with Dubai as the benchmark for crude products in Asia, and the Mean of Platts Singapore (MOPS) as the basis for finished products. Domestic oil prices simply reflect the costs of crude products and foreign exchange rates. For importers of finished oil products, the MOPS is a key indicator for oil prices.

Global demand

Abaya noted that price surges of this magnitude have in the past been driven by geopolitical developments.

This time, however, they seem to be the result of "a genuine market force, a renewed demand for oil across the globe. Countries have switched on their growth mode," he said.

Even at these record prices, the demand for oil continues to grow, so much so that the Organization of Petroleum Exporting Countries will have to decide soon to increase production, Abaya said.

The surge in world oil prices is partly due to the uncertainty in the Opec supply. Other factors include the prolonged winter in Europe and the northeastern United States as well as continuing violence in the Middle East.

Opec meets March 16

Opec members are to meet on March 16 to discuss what to do with their present production quotas.

Also expected to be on the agenda is the setting of the Opec price band for its basket of crude, previously placed at between $22 and $28 a barrel.

Should the Opec decide to boost its price band to between $40 and $50 a barrel, motorists and commuters could see a ramping up of pump prices, Abaya said.

Barely a week after increasing their prices, new oil players Seaoil Petroleum Corp. and Flying V again hiked gasoline, diesel and kerosene prices by 50 centavos a liter yesterday and Friday.

Increased twice since Jan.

Since the start of the year, gasoline prices have increased twice by a total of P1.10 a liter.

Diesel prices have gone up three times by a total of P1.30 a liter.

Seaoil and Flying V said the continued rise in international crude and finished product prices had forced them to increase pump prices.

The big oil companies, including refiners Petron Corp. and Pilipinas Shell, have yet to announce their own price adjustments but are bound to do so soon.

[nugundam93]

just as a short of knee-jerk reaction...

why won't they just charge higher for those countries naturally (colder areas) buying tons more than those countries buying less (ie, tropical areas)?

gutom na ako. hehe.

[cyberdoc95]

Nakuww,baka sa pagtaas ng mga bilihin ay gobyerno na naman ang may kasalanan lahat(di naman siguro lahat). Ang mangyari niyan ay mag-alsa na naman ang mga sambayanang Pilipino sa gutom. PEOPLE POWER NA NAMAN KAYA??! Aabot pa yata ng People Power 10. he he he..

To quote sa kanta ni DIANA ROSS:

Pilipinas,
Do you know where you're going to,
Do you like the things that life is showing you,
Where are you going to,
DO YOU KNOW?! :hihihi:

[EC248M]

Namputcha, nagpa gas ako kanina almost P30.00 na pala per liter ang unleaded. huh!

[Karding]

$2.45/gallon

[ssaloon]

shortage ngayon sa region. umabot ng $62 per barrel ang diesel as of yesterday. $58 naman para sa gasoline.