kaya pa kaya natin ito?

**zero** · June 21st, 2005 01:57 PM

i read it from http://www.abs-cbnnews.com/topoftheh...x?StoryId=8448
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National (as of 11:49 AM)

Pump price to hit P48/liter due to VAT

Pump price of gasoline could hit P48 per liter once the government imposes the new value-added tax (VAT) law on petroleum products next month, Raul Concepcion of the Consumer and Oil Price Watch (COPW) said Tuesday.

Concepcion said he got the figure from the price estimated by Rex Tantiongco, spokesman of the New Petroleum Players Association and former chairman of the government's Energy Regulatory Board.

"He (Tantiongco) was estimating about P48.30 [per liter of gasoline], something like that," Concepcion told DZMM in an interview. At present, a liter of gasoline averages at P30.

Concepcion said the P48 per liter forecast stemmed from the upward movement of petroleum prices in the world market.

Oil prices set a new record high on Monday as worries about a winter fuel crunch stoked buying by hedge funds and forced OPEC to consider lifting supply quotas again.

He said soaring world crude prices could also push petroleum prices up until next month or after July 1, which is also the new VAT's implementing date.

"The prognosis in the international market is that the prices will continue to go up and [will] not go down for the next three months until they can make up with their increase refining capacity," he said.

Concepcion said a meeting among oil firms, COPW and energy officials would be held to discuss such scenario.

He said oil firms should withhold further adjustments until the meeting pushes through. The meeting is tentatively scheduled this week.

"Unang-una we have to agree sa inventory because 'yung excise tax, mayroon silang excise tax na kailangang bayaran and then 'yung kanilang inventory without excise tax. (We have to agree on inventory and excise tax to be paid and then the inventory without the excise tax)," Concepcion said.

US light crude moved to a record for the second successive session, hitting $59.52 a barrel, before paring gains to settle up 90 cents at $59.37. London Brent futures rose 56 cents to $58.32 a barrel, having hit a peak of $58.58.

US contracts for the last four months of the year, when oil demand seasonally picks up in the Northern Hemisphere, all traded at $60 or above, with December crude breaking $61.

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o di ba, may resulta? (sabi ng ad ni ate glo)

**artpogi** · June 21st, 2005 02:48 PM

Damn!

**Juan Tamad** · June 21st, 2005 02:54 PM

Palitan na si GMA!!!! Yan VAT... Dyan babagsak ang Pinas...

**1D4LV** · June 21st, 2005 03:03 PM

48.00 ? footah! one full tank costs 1,440.00?
dapat yan, at least, pag tumaas ang global price ng gasoline, i-suspend muna ng gobyerno pagkokolekta ng VAT, tapos pag medyo reasonable ba, tsaka i-resume.

di pa nga naguumpisa ang implementation nyang VAT law na yan, nagtataasan na bilihin. sure ako dyan, pati cost of electricity susunod na dyan.

what will happen to people who are earning minimum wage? kakain pa ba sila? can they still afford to send their kids to school? can they still buy medicines if they are sick?

**artpogi** · June 21st, 2005 03:16 PM

Ganito dapat gawin dyan sa mga taga OPEC

pero dapat sa leeg naka tali

**knicks1204** · June 21st, 2005 06:49 PM

nagpapatawa ba sila? ang mahal na nga ng gas as is eh.. gusto lang nilang kumita lalo dyan...

**yebo** · June 21st, 2005 08:20 PM

Originally Posted by artpogi

Ganito dapat gawin dyan sa mga taga OPEC

pero dapat sa leeg naka tali

it is not opec that is causing the rise in oil prices. if you read the news, they had increased oil production to lower the oil price. they are again planning to increase their quotas to counter the recent rise in oil prices. they after all know that very high oil prices is bad for them - governments begin to plan long term on eliminating or at least reducing dependence on petroleum. they have learned their lessons well during the world oil embargoes of the 1970s. they know it does not help to kill the very market they sell to.

you should blame instead those energy futures traders in new york. it is only june and they are already trading for the oil deliveries in december. last year when they started bidding the oil price to high heavens "fearing" an oil shortage in the winter months, their predictions did not happen since opec opened up its wells to prevent high prices. and this time they are are it again, peddling the same old lies to maximize their gains!

you know how those traders think? commission in every trade! they will buy and sell that oil several times before it even gets pumped out of the oil well. to hell with the rest of the world as long as they get their commissions. and they will make any excuse, like "fear of oil shortage in winter" to justify increasing the price. the higher the price goes up the more times they trade that barrel of oil. only when they have milked it to their content will they have it delivered.

so where does their commissions come from. you bet, it's your pocket indio!

**odell** · June 21st, 2005 09:23 PM

nakakainis naman yan.. kelan tayo aasenso...

**falken_09** · June 21st, 2005 10:31 PM

puro vat puro vat,, may kinomercial pa cla na kelan mag vat, waaaaaaa!!!

**badkuk** · June 21st, 2005 10:59 PM

teka teka...that headline seems to be demonizing the VAT irrationally. pag tinanggal ba ung VAT, bababa na ang gas prices?

afaik rising gas prices, as well as steel, copper, construction materials, is caused by increased demand -- more specifically, demand from china.